Which of the following economists propounded the innovation theory of profit?
Schumpeter linked entrepreneurial profit to innovation. Introducing new products, production methods or markets can create a temporary advantage and profit before…
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Which of the following economists propounded the innovation theory of profit?
Answer and explanation
Correct answer D
Schumpeter linked entrepreneurial profit to innovation. Introducing new products, production methods or markets can create a temporary advantage and profit before competitors imitate the innovation.
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Tamil Nadu SET (TNSET)