Get Started
353

Q:

Who developed the innovative theory of profit?

  • 1
    Walker
  • 2
    Clarke
  • 3
    Knight
  • 4
    Schumpeter
  • Show Answer
  • Workspace

Answer : 4. "Schumpeter"
Explanation :

The 'Innovation Theory of Profit' was proposed by Joseph. A. Schumpeter who believed that an entrepreneur can earn economic profits by introducing successful innovations.

Previous Next
Basic GK Economics GK

The Most Comprehensive Exam Preparation Platform

Get the Examsbook Prep App Today