Entrepreneurship is becoming the drivingforce behind many economies in the worldand most economies support it. Explainwhy entrepreneurship is important to thiseconomy.

Entrepreneurship is significant for various reasons, from elevating social change to driving…

Answered: Entrepreneurship is becoming the…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter32: Macroeconomic Policy Around The World

Section: Chapter Questions

Problem 29CTQ: Explain why converging economies may present a strong argument for limiting flows of capital but not...

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Explain why converging economies may present a strong argument for limiting flows of capital but not for limiting trade.
Some resource-rich countries have succeeded in converting resource wealth into longterm and equitable economic development, while many others have not. Naturalresources have played a fundamental role in the growth of several industrializedeconomies, including Germany and the United Kingdom, where coal and iron ore depositswere a precondition for the Industrial Revolution. The United States was the world’sleading mineral economy from the mid-nineteenth to the mid-twentieth century and in thesame period became the world’s leader in manufacturing (van der Ploeg 2011). Morerecently, countries such as Botswana, Chile, and Norway have used abundant oil andmineral resources as the foundation for economic growth. However, in many othercountries, resource extraction appears to have undermined governance, fed corruptionand capital flight, and increased inequality.Required:(a) Discuss the main challenges posed by resource revenues; and(b) Discuss the special fiscal institutions and mechanisms…
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By taking into consideration the history of the Caribbean, the economic theories underpinningCaribbean development as well as the features of the typical Caribbean economy, construct ahypothetical (ideal) economic model that you consider suitable for the economic development ofthe Caribbean. Ensure that you carefully explain/justify the reasoning behind the development ofyour model.
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Kindly answer this, Thankyou! 1. Does entrepreneurship matter? Why? 2. How important is entrepreneurship in nation building?
Explain what the Industrial Revolution was and where it began.

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Entrepreneurship is becoming the driving force behind many economies in the world and most economies support it. Explain why entrepreneurship is important to this economy.