ENTREPRENUERSHIP

&
ECONOMIC SYSTEM
  What is ENTREPRENEURSHIP?
 Capacity to take risks.
 Ability to own and organize.
 Desire and capability to innovate and diversify.

 Why ENTREPRENEURSHIP?
 Process of creating something different, with value,
 devoting necessary time and effort,
 assuming the financial, psychological, social risks,
 and receiving rewards of monetary and personal
satisfaction .
  Who is an entrepreneur?
 Organizer of an economic venture, one who owns,
organizes, manages, and assumes the risks of the business in
order to make profits. .
 HIS ROLE…
An innovator Produces competitive
(technical +financial ) products, processes, and
services.

Generation of new Local and regional

employment economic
development
 Entrepreneur as an Economic Pioneer

Introduction of new goods and products.

Introduction of new processes and methods of

production.

Opening up of new markets &sources of supply.

Industrial re-organization.
  ECONOMIC SYSTEM
 Describes how a country's economy is organized.
Due to scarcity or limited resources, every country needs a system
to determine how to use its productive resources.

 What to produce? (kinds of goods & services)

 How to produce? (resources use to produce)

 For whom to produce? (who gets the goods & services)

 COMMAND MARKET

ECONOMY
TYPES

TRADITIONAL MIXED
 NAME MEANING ECONOMY Ex

based on customs & Africa

TRADITIONAL Farming & &
traditions hunting
E.S India.

Govt decides who the North

COMMAND Govt owns &
farmer are, what to Korea
E.S operates factor
grow & how much +
of production
Cuba
Production &
Makes products & US,
distribution are
MARKET provides services Japan
based on price
E.S that earns profit.
+ profit
Features both determines what
market + & how much to US,
MIXED
command produce China
.