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Marshall’s first reading in economics was Ricardo and Mill; he described his early efforts as attempts to translate the ideas of these writers into differential equations. • Karl Marx On the one hand, they all find their roots in the late-nineteenth-century work by British economist Alfred Marshall. The concept of consumer surplus is another of Marshall’s contributions. Marshall’s first reading in economics was Ricardo and Mill; he described his early efforts as attempts to translate the ideas of these writers into differential equations. considers innovation as the primary factor affecting development, NEW Product, Production method, Market, Supplier, Industry structure, attributes economic growth to the government, result to scarce of money and high number unemployed, an entrepreneur faces the risk of uncertainty in the process of connecting the supplier and the buyer, generalizes that the organization plays the most significant role among the different factors of production, they are expected to create new commodities or improve existing ones, without the active participation the economy will develop slowly, foresees possible changes in the future supply and demand pattern, asserts that social cultures have significant contributions to entrepreneurship, gives importance to the advancement of technology as an element of production, advocates that entrepreneurship fills the gap in any economic activity, extend assistance to entrepreneurial ventures experiencing failures and deficiencies, focuses on learning and alertness as the primary attributes of entrepreneurship, Entrepreneurship and small business activities, provides guidelines in their wealth and creating venture, helps improve their financial and social life, makes their lives happy, fruitful, and successful, It makes substantial contribution to the raising and collection of taxes, facilitates the movement of the factors of production, it promotes a peaceful and loving community, it helps find an entrepreneurial niche in the world market, it helps hasten economic recovery process in the Philippines during financial turmoil or crackdown, it facilitates the smooth flow of money in the local market, assist the national government in its desire to have favorable economic ratings in the world market, Entrepreneurial Process of Creating a New Venture. Like the British Classical School this group of economic thinkers has been criticized more for their neglect of the entrepreneurial function than their contributions to understanding entrepreneurship (Kirzner, 1980). Alfred Marshall (1842-1924), from the English School of thought, was one of the founders of neoclassical economics. John Maynard Keynes was born in 1883 which means he lived around the same time period as the seven creative individuals which Howard Gardner chose to focus on in his book Creating Minds. Entrepreneurship, both technical and commercial, is the driving element behind organization. Definitions of Entrepreneur – According to Bernard Belidor, Jean Baptiste, Jan Tinbergen, Adam Smith, Alfred Marshall, Joseph A. Schumpeter and Others. Although Alfred Marshall utilized both of these theories, his focus was on the cost. His research involved distinguishing between the terms capitalist, entrepreneur… An entrepreneur is a person who is devoted to search something new and exploit the novel notions and visions into gainful opportunities by bearing the risk involved in the process. All of the ideas have been discussed here are based on two economists Alfred Marshall and Henry George’s point, Alfred Marshall He is one of the most recognizable and influential economist of the 20th Century. Alfred Marshall was an English economist counted among the greatest economists of all time. Since machines and buildings wear out and have to be replaced in the long run, the sale price must be high so that it would be enough to cover the costs. Alfred Marshall Theory of Demand • Alfred Marshall’s most important contribution to demand theory was his clear formulation of the concept of price elasticity of demand. 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