ok...so im going to reset my business and economics exams in nov 2011
i'll be posting my essays and i want you people to grade me....and give remarks on my positive and negative points!
Qns.Outline the main benefits to the economy of your country of an increase in the number of new business start-ups made by enterprenuer? [10 marks]
Ans.Enterprenuer are the people who take risk to start-up a new venture their finance and business ideas.The economy of my country will be greatly benefited by a number of business start-ups by enterprenuers.These benefits include;
1.Many people will be employed by these new firms which will reduce unemployment.
2.More businesses leads to an increase in the number of goods produced.This will increase GDP and thus lead to economics growth.
3.More employment will improve the living standards of the citizens in my country.
4.Increased revenue to the Government from various forms of tax can lead to the provision of more public and merit goods.
5.There are chances that these new firms will enter the international market and compete.
6.Exports from these new firms chance improve balance of payments.
7.It will lead to increased social cohesion.
ok....so this was my answer.....my grade me and tell me where to improve!
i would give u 7,
u r points seem to be fine , u might wanna discribe them a lil bit more , like how unemployment is reduced , & hw living standerds are improved etc
& u could say with increased business start ups more competition is created , so greater & efficient output with (possibly) cheaper prices may be available in market.
& also with more business startups there would be a boost / employment in other industries too , specially banking servises , because entrepreneurs may need to borrow money to start up businesses.
Less crime with , better living standerds.(a bit of a long shot but still possible
)
Investments from foreign countries + local investments.
less state production might be required
its better u add as much as points u can , u hav a better chance then