- 1 Marks
Question
Economic activities in a nation comprise of professional services, businesses, or employment. The following statements in respect of economic activities are correct, EXCEPT:
A. Most businesses need employees to carry out their operations
B. Most employees do not contribute entrepreneurship to the economy
C. A growing economy does not need entrepreneurs and innovation to sustain its growth
D. Professionals and individuals in other specialised vocations contribute specialised skills
E. Professionals contribute value to clients and individuals by providing service of a high standard
Answer
C. A growing economy does not need entrepreneurs and innovation to sustain its growth
Explanation: This statement is incorrect because entrepreneurs and innovation are essential for the growth and sustainability of any economy. They drive economic development, create jobs, and introduce new products and services, which contribute to the overall progress and competitiveness of a nation.
- Topic: The Business Environment
- Series: MAY 2023
- Uploader: Theophilus