Asked by Adney Guerrero on Apr 30, 2024
Verified
Statement I: Joseph Schumpeter believed that innovations were not evenly distributed in time,but instead tended to come in clusters.
Statement II: Joseph Schumpeter believed that all profits were linked to uncertainty and risk.
A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.
Joseph Schumpeter
An economist known for his theory on business cycles and for coining the term "creative destruction" to describe the process of innovation in economics.
Innovations
The process of translating an idea or invention into a good or service that creates value or for which customers will pay.
Clusters
Geographic concentrations of interconnected companies, specialized suppliers, and service providers in a particular field that are thought to increase competitiveness and innovation.
- Explain the importance of creativity and taking risks in generating economic gains.
- Identify the diverse perspectives on landlords and entrepreneurs, along with their roles in the economy as perceived by different theorists.
Verified Answer
Learning Objectives
- Explain the importance of creativity and taking risks in generating economic gains.
- Identify the diverse perspectives on landlords and entrepreneurs, along with their roles in the economy as perceived by different theorists.
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