Entrepreneurship Assignment 2 Example | Topics and Well Written Essays - 2000 words

Entrepreneurship 2 - Assignment Example Entrepreneurship not only provides for one’s own self but creates jobs for a few other people as well. Entrepreneurship is connected with undertaking innovations or the introduction of new products or finance and business expertise. Entrepreneurship not only includes setting up of a business but its continuous growth and diversification. An entrepreneur keeps looking for a prospect that provides challenge. Through entrepreneurship products are converted into goods of real economic value. Entrepreneurship may involve establishment of new enterprises or could only be a revitalization of a mature organization in the result of a recent development. It’s the job of an entrepreneur to seek chances which make him capable of employing his energies in enterprising ventures. He gathers all the resources, assembles them in a nice shape and makes a product worthy of finishing. It’s the responsibility of the entrepreneur to bring improvement to existing ideas and sell them accordingly. Entrepreneurs have to lookout for market changes and create an opportunity for themselves by utilizing the shift in market demands. It is said that the most opportune moment for a moneymaker is when a nation is destroying or building itself. It is therefore from the process of change that the most occasions come from. Entrepreneurship is based on knowledge and is carried out after a sufficient amount of research. It caters socio-economic, psychological, technological, and legal occurrences and works in response to the swing they create in market trends. It delves deeper into marketing theories and change its strategies with the shift in events. Resources such as capital, human talent and technology are sorted and put to use in their most efficient combination at the most beneficial moments. Such arrangements are a specialty of entrepreneurs because they are moderate risk-takers. Therefore to minimize the risk factor a lot of market research is conducted when a new

Economic Critique Essay Example | Topics and Well Written Essays - 500 words - 1

Economic Critique - Essay Example In principle, they would push the excess or extra tax to the customers and buyers of their products and services. Conventionally, the increase in princes due to increased taxation implies that the level of goods demanded would reduce since the people would not be in any position to buy. The law of equilibrium demands that for the markets or economy to clear, then demand ought to be equal to supply of goods or services. If the demand would reduce then the supply would also reduce in equal proportion. In the recent past, the Obama administration and the government at large has been pushing for a change in the fiscal policy relating to reduction in general taxes levied to the people especially those of the poor classes. This move or fiscal move is expansionary in nature. This is the situation where the government seeks to reduce the level of taxes that is levied to people especially the poor people in move aimed at cushioning them against the hard economic times of the current day and age. John Keynes as a pioneer economist and thinker advocated for the expansionary policy where the government reduces the taxes levied on the citizens to cushion them during inflation or times of economic anomie. In the field of economics, this expansionary move is taken and aimed at reducing the budget surplus and get the economy back to recovery path. On the contrary, the classical view is slightly different relative to the above position and stance. The classical economists are of the opinion that the expansionary moves and policies are completely unnecessary and would create an unnecessary disturbance on the economy. This is so because the classical economists believe that there are necessary and appropriate mechanisms in the market or economy which would correct and clear the market and economy on their own. This is to say that the market has