An economy in which entrepreneurs are free to experiment with new ideas and bring innovative products to the market will:
lead to increased living standards but stagnate economic growth. help stagnate living standards but increase economic growth. help economic growth but not affect living standards. lead to improved living standards and increased economic growth.
An economy in which entrepreneurs are free to experiment with new ideas and bring innovative products to the market will likely lead to improved living standards and increased economic growth.
This is because innovation typically drives productivity improvements, creates new jobs, and enhances the quality of goods and services available to consumers, all of which contribute to higher living standards and overall economic growth.