Question : The innovation theory of profit was proposed by
Option 1: Marshall
Option 2: Clark
Option 3: Schumpeter
Option 4: Joan Robinson
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Correct Answer: Schumpeter
Solution : The correct option is Schumpeter.
Joseph Schumpeter, an economist, proposed the innovation theory of profit. In his 1911 book "The Theory of Economic Development", Schumpeter outlined this idea. Entrepreneurs can make money by introducing innovations, which Schumpeter broadly defined as any novel combination of resources that results in an innovative good, service, or business.
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Question : The Liquidity Preference Theory of Interest was propounded by :
Option 1: J. M. Keynes
Option 2: David Ricardo
Option 3: Alfred Marshall
Option 4: Adam Smith
Question : Ryotwari system of revenue collection in India, introduced by the British, was based on the_______.
Option 1: Smith's theory of rent
Option 2: Ricardian theory of rent
Option 3: Malthusian theory of rent
Option 4: Marx's theory of rent
Question : "The General Equilibrium Analysis" was developed by:
Option 1: Alfred Marshall
Option 3: Marie-Esprit-Léon Walras
Question : Charles Darwin, the famous evolutionist, proposed his theory in which one of his books?
Option 1: The families of flowering plant
Option 2: The origin of species
Option 3: The life on Earth
Option 4: The story of the living world
Question : Direction: Joan's age is 42, and Kelvin's age is 26. How many years ago was Kelvin's age half of Joan's age?
Option 1: 6 years
Option 2: 4 years
Option 3: 10 years
Option 4: 8 years
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