Arrange the following theories of Profit in order of time when these were propounded from oldest to…
Arranged chronologically: F.A. Walker's theory of profit as rent of ability (1887), J.B. Clark's dynamic theory (1900), F.B. Hawley's risk theory (1907), Schumpeter's…
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Arrange the following theories of Profit in order of time when these were propounded from oldest to latest -
A. Hawley's Risk Theory of profit
B. Walker's Theory of Profit: Profit as Rent of Ability
C. Clerk's Dynamic Theory of Profit
D. Schumpeter's Innovation Theory of Profit
E. Knight's Theory of Profit
Answer and explanation
Correct answer B
Arranged chronologically: F.A. Walker's theory of profit as rent of ability (1887), J.B. Clark's dynamic theory (1900), F.B. Hawley's risk theory (1907), Schumpeter's innovation theory (1911) and F.H. Knight's uncertainty theory (1921), i.e. B, C, A, D, E.
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UGC NET Commerce