Entrepreneurial Economics

This article talks about Entrepreneurial Economics, which is the accumulation of factors of production per se does not explain economic development. It combined with land, labor, natural resources and capital can produce profit. Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential part of a nation’s ability to succeed in an ever changing and increasingly competitive global marketplace. It is the study of the entrepreneur and entrepreneurship within the economy. Entrepreneurial Economicsare necessary inputs in production, but they are not sufficient for economic growth.