American culture contributes to economic growth by means of encouraging new ideas by:

Question

Quizplus · Accepted Answer

Supporting entrepreneurship means that individuals are encouraged to create and start new businesses or projects. This leads to innovation and the introduction of new ideas and products into the market, which can drive economic growth. Personal savings and retirement income also have an impact on the economy, but they do not necessarily encourage new ideas and entrepreneurship in the same way that supporting entrepreneurship does. High levels of government ownership of manufacturing firms can actually stifle innovation and competition, which can hurt economic growth.

American Culture Contributes to Economic Growth by Means of Encouraging