Tag Archives | Entrepreneurs

Role of Entrepreneurs in Economic Development

Everything you need to know about the role of entrepreneurs in economic development. Economic development essentially means a process of upward change whereby the real per capita income of a country increases over a period of time. Entrepreneur plays a vital role in economic development. Entrepreneurs serve as the catalysts in the process of industrialization and economic growth. Technical progress [...]

By |2023-01-14T22:58:10+05:30June 8, 2019|Entrepreneurs|Comments Off on Role of Entrepreneurs in Economic Development

Comparison between Rent and Profit | Microeconomics

We may now compare between rent and profit, for both involve some kind of surplus income of a factor. Economic rent is the difference between the actual earnings of a unit of an input and its supply price. The actual earnings of an input is the price that it receives for selling its services for a given period of time. [...]

By |2016-09-17T15:54:52+05:30September 17, 2016|Rent|Comments Off on Comparison between Rent and Profit | Microeconomics
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