Question : By whom was the autonomous investment separated from induced investment?
Option 1: Joseph Alois Schumpeter
Option 2: Thomas Robert Malthus
Option 3: Joan Robinson
Option 4: Adam Smith
Recommended: How to crack SSC CHSL | SSC CHSL exam guide
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.
Joseph Alois Schumpeter is credited with first distinguishing between autonomous and induced investment. According to him, the driving force behind economic progress is an autonomous investment, which is characterised by a motivation to innovate and create new goods and services rather than being solely driven by profit expectations. According to Joseph Alois Schumpeter, the induced investment may occur only when the autonomous investment has established fresh marketplaces and possibilities. Induced investment is investment conducted in response to increasing demand for products and services.
Candidates can download this e-book to give a boost to thier preparation.
Application | Eligibility | Admit Card | Answer Key | Preparation Tips | Result | Cutoff
Question : J. B. Say's Law of Market was not accepted by:
Option 1: Adam Smith
Option 2: Marshall
Option 3: Malthus
Option 4: David Ricardo
Question : Who is called the "Father of Economics"?
Option 1: Max Muller
Option 2: Karl Marx
Option 3: Adam Smith
Option 4: Alfred Marshall
Question : The value of the investment multiplier relates to
Option 1: change in income due to change in autonomous investment
Option 2: change in autonomous investment due to change in income
Option 3: change in income due to change in consumption
Option 4: change in the income due to change in induced investment
Question : Chlorophyll was first isolated and named by
Option 1: Joseph Bienaime Caventou
Option 2: Pierre-Joseph Pelletier
Option 3: Agnes Arber
Option 4: Joseph Bienaime Caventou and Pierre-Joseph Pelletier
Question : The development process under capitalism has been described as "creative destruction" by:
Option 1: Joseph Schumpeter
Option 3: Norwood Russell Hanson
Option 4: J. S. Mill
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile