Question : Who propounded the Dynamic Theory of profit?
Option 1: Clark
Option 2: Schumpeter
Option 3: Knight
Option 4: Hawley
Correct Answer: Clark
Solution : The correct answer is Clark.
The theory of profit put forth by J.B. Clark is known as the dynamic theory of profit. As per this theory, profits are generated only in an economy that is dynamic, i.e., rapidly changing, and no profits are generated in a static economy. An economy can be considered dynamic only when there is a change in population, method of production, capital generation, or consumer demand.
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