Question : Who developed the innovations theory of profit?
Option 1: Francis Amasa Walker
Option 2: John Bates Clark
Option 3: Frank Hyneman Knight
Option 4: Joseph Alois Schumpeter
New: SSC MTS 2024 Application Form OUT; Direct Link
Don't Miss: Month-wise Current Affairs | Upcoming Government Exams
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
Correct Answer: Joseph Alois Schumpeter
Solution : The correct answer is Joseph Alois Schumpeter.
Austrian economist Joseph Alois Schumpeter established the profit innovation idea. He claimed that profits are earned by entrepreneurs who propose new goods, methods, or company models. These innovations interrupt established markets and open up new economic potential.
Application | Cutoff | Selection Process | Preparation Tips | Eligibility | Exam Pattern | Admit Card
Question : Who propounded the Dynamic Theory of profit?
Question : Who is associated with the invention of nylon?
Question : Microeconomics is also called:
Question : Who called political science an 'inexact science'?
Question : Who developed the Ryotwari system?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile