Answer to Question #63636 in Other Economics for Alex

Question

discuss commonalities between creativity, innovation and enterpreneurship ( 15 marks)

Answer 1

Creativity is turning new and imaginative ideas into reality.
Innovation is the process of translating the idea or invention into a good or service that creates value or for which the customer will pay.
Entrepreneurship is the process of designing, launching and running a new business.

As it is clear from definitions provided, all the three phenomena expect an introduction on new ideas, principles or concepts into reality.