Chapter 1 Entrepreneurship
Chapter 1 Entrepreneurship
A deeper analysis of the economies of rich countries reveals that most of them
are not endowed with abundant natural resources. Japan is a very good example. The
country imports 90 percent of raw materials for its industries. Yet Japan has excelled in
trade and industry.
In economic development, the bottom line is the quality of the people of a given
country. Knowledge, skills and values are the main determinants of economic growth.
BUSINESS DEVELOPMENT
These trade shaped the pattern of specialization of the three people in the
colonial economy:
1
The biggest economic problem of our country is unemployment. Those who are
willing and able to work cannot find jobs. Unemployment creates social problems such
as housing, health and sanitation, prostitution, robbery and other related crimes. The
grim faces of poverty are all around us.
Not a few giant businesses came from micro-businesses. They create jobs for
people and they help the government through tax payments. On the other hand,
employees get only low salaries, and they are not the boss. Employees do not become
rich. It is in business where there is money and economic fortune.