What is the role of joint enterprise in an economy?

1.	What is the role of joint enterprise in an economy?
Answer» Joint enterprise refers to association of two or more business units having common interest. Joint venture is mutually beneficial to both the parties. They share each other’s strategies, rich experience and knowledge to expand or create a new market. Joint venture rolls out new products and services in the market. It also increases employment opportunities for people. Due to expanded market and employment, government’s tax revenue increases. Several innovative products are introduced in the market. These products increase the standard of living. Economy may also get advantage of large scale-low cost production, better and efficient processes and hence higher productivity.

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