· The nature of a developing economy is quite different from a developed economy.
The developing economy can be an agricultural country moving towards the industrialization or it may be the one where in the industry may be in its infancy lacking advance technology.
· The modern era is an era of changes. The whole world is becoming a village due to the industrial revolution and fast developing communication technology. The globalization of industry and commerce is bringing a vast change in various aspects of life.
· Economic development of a country is the outcome of purposeful human activity.
· The modern era is an era of changes. The whole world is becoming a village due to the industrial revolution and fast developing communication technology. The globalization of industry and commerce is bringing a vast change in various aspects of life.
· Economic development of a country is the outcome of purposeful human activity.
· Economic development is a highly dynamic process characterized by the pattern of demand shifts, new products are needed, appear for the production of goods within a country.
· A developing country needs entrepreneurs who are competent to perceive new opportunities and are willing to incur the necessary risk in exploiting them.
· A developing economy is required to be brought out of the vicious circle of low income and poverty. Entrepreneur can break this vicious circle.
· Entrepreneurs and helping government can change a developing economy in developed economy.