The theory that profits are a reward for taking risks was formulated by _________.

Theory Of Profits

An explanation of how profits arise in markets, focusing on factors like risk, investment returns, and the dynamics between revenue and costs.

Taking Risks

The act of engaging in actions or decisions that have a significant chance of leading to loss but also offer potential rewards.

Identify differences between diverse theories pertaining to profit sources, including those related to innovation and engagement in risk.

Verified Answer

Final Answer :

Frank Knight

Learning Objectives

Identify differences between diverse theories pertaining to profit sources, including those related to innovation and engagement in risk.