Economics Mixed Economy Questions
The role of entrepreneurship in a mixed economy is to drive innovation, create new businesses, and generate economic growth. Entrepreneurs identify opportunities in the market and take risks by investing their own resources to start and operate businesses. They play a crucial role in the allocation of resources, as they determine what goods and services to produce based on consumer demand. Additionally, entrepreneurs create job opportunities, contribute to technological advancements, and foster competition, which ultimately benefits the overall economy.