Create an entrepreneurship and socio-economic development relationship mind map. In your relationship mind map, illustrate the interconnectivity of entrepreneurship and socio-economic benefits. NOTE THAT YOUR ILLUSTRATION SHOULD READILY SHOW THE INTERCONNECTION OF ENTREPRENEURSHIP AND SOCIO-ECONOMIC DEVELOPMENT. You may add short descriptions in your illustration to convey your point so that when the reader looks at it, they can readily understand the interrelationships.

QUESTION 1 1.1 Entrepreneurial activities may be harmful to economic growth in economies that are passing through the early to middle stage of development as many people would be moving from self-employment to waged employment. Critically discuss this statement on the nexus between entrepreneurship and economic growth as per the literature. 1.2 Using Table 5, discuss the study’s findings for the BRICS countries. 1.3 Given the study’s focus on emerging economies, examine the study’s policy implications for the BRICS countries.

Based on article "Technology and economic growth: From Robert Solow to Paul Romer" by Rui Zhao, Romer has successfully opened the black box and explained how technology can be produced by an economy without having to rely on external (exogenous) technology. Using the central equations of the Romer’s model, technology (At) can grow to At + 1 due to efforts in R&D and technology spillover. Explain the role of three key sectors in the economy to drive technological-based economic growth.