| Entrepreneurship | Standard of Living |
|---|---|
|
Entrepreneurship refers to the skills of people who are willing to invest their time and money to run a business.
What is entrepreneurship? (definition)
|
A measurement of the amount and quality of goods and services that a nation's people have
What is a country's standard of living?
|
|
Steve Jobs, Bill Gates, Andrew Carnegie, Henry Ford, Mark Zuckerberg, etc
Name a famous entrepreneur
|
GDP or GNP / population
How do you calculate the standard of living?
|
|
Innovations and transportation and communications leads to growth and change in the economy.
What major contributions do entrepreneurs make to the economy?
|
High standard of living
What does a high level of social services mean to a country?
|
|
Cheaper and quality goods
What do consumers seek from entrepreneurs?
|
washing machines, refrigerator, dishwashers, and autos
Give examples of durable goods
|
|
A good imagination and a capacity for hard work
What are some traits of an entrepreneur?
|
Industrialized nations, because they have a high level of production.
What type of nation enjoy a high standard of living and why?
|
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