ROLE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT 1. INCREASING PER CAPITA OUTPUT AND INCOME 2. PRODUCT EVOLUTION IMPROVMENT OR CREATE NEW PRODUCT, INNOVATIONS ITERATIVE SYNTHESIS : INTERSECTION OF KNOWLEDGE AND A RECOGNIZED SOCIAL NEED. - ORDINARY INNOVATIOS - TECHNOLOGICAL INNOVATIONS - BREAKTHROUGH INNOVATIONS 3. CREATE NEW MARKET 4. JOB CREATION 5. SOCIETY WALFARE