1.

Entrepreneurship offers an economical and

faster method of distributing goods and
services that accelerates economic
developments.

2. Entrepreneurship is capable of generating

more jobs, income, goods and services.

3. Entrepreneurship improves the quality of life.

4. Entrepreneurship contributes to more
equitable distribution of income and
therefore , eases social unrest.

5. Entrepreneurship utilizes and mobilizes

resources to make the country productive.
6.
7. Entrepreneurship brings social benefits
through the government
7. Entrepreneurship has several definitions. Any person who
takes the risks and invests his resources to make something
new or better is engaged in entrepreneurship. This applies
not only to business, but also to social services.
8. Economic development is a process , while economic
growth is a product of economic development. Both
economic and non-economic factors constitute the
determinants of economic development. In less, developed
countries, economic development refers to the progressive
process of improving human conditions by reducing or
eliminating poverty, disease, injustice, illiteracy and
exploitation.
9. Development and Growth Theories
a. Laissez-Fairer Theory explains that the government
should not interfere in economic activities
b. Keynesian Theory explains that the government should
play the key role in economic development
c. Ricardian Theory. This is the theory of David Ricardo
focusing on agriculture playing the major role in
economic development
d. Harrod-Domar Theory, conceptualized by Sir Harrod of
England and Prof. Domar of the U.S. claims that more
products can be produced through the use of machines
e. Kaldor Theory , by Nichols Kaldor, maintains that
the key factor is technology. This theory explains
that the application of modern technology in the
production of goods and services has been
responsible for the economic success of the highly
developed countries

f. Innovation Theory, developed by Joseph

Schumpeter, stresses the role of innovators or
entrepreneurs in economic development
10. The contributions of entrepreneurship are 1) development
of new markets, 2) discovery of new sources of materials, 3)
mobilization of capital resources, 4) introduction of new
technologies and 5) creation of employment
11. There is a need for Filipino entrepreneurial economy. This
means our productive resources should be in the hands of
Filipino for their own benefits. A reasonable economic
nationalism should dominate our business culture for our
own prosperity as a nation. Schools should stress the value
of entrepreneurship based on just economic nationalism.
12. The government can support entrepreneurs from their various assistance
programs on the following: Peace and Order, Political