![]() In all these, there is a dire need for an equal and level platform. Therefore, entrepreneurs can break this vicious circle and help government to change a developing economy into a developed economy. 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.ĭeveloping countries need entrepreneurs who are competent to perceive new opportunities and are willing to incur the necessary risk in exploiting them.Ī developing economy is required to be brought out of the vicious circle of low income and poverty. The globalization of industry and commerce is bringing a vast change in various aspects of life.Įconomic development of a country is the outcome of purposeful human activity. ![]() ![]() The whole world which is now view as a global village due to the industrial revolution and fast developing communication technology. ![]() The modern era is an era of new emerging changes. ![]()
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