Question : Who developed the innovations theory of profit?
Option 1: Francis Amasa Walker
Option 2: John Bates Clark
Option 3: Frank Hyneman Knight
Option 4: Joseph Alois Schumpeter
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Correct Answer: Joseph Alois Schumpeter
Solution : The correct answer is Joseph Alois Schumpeter.
Austrian economist Joseph Alois Schumpeter established the profit innovation idea. He claimed that profits are earned by entrepreneurs who propose new goods, methods, or company models. These innovations interrupt established markets and open up new economic potential.
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Question : Who propounded the Dynamic Theory of profit?
Option 1: Clark
Option 2: Schumpeter
Option 3: Knight
Option 4: Hawley
Question : Who is associated with the invention of nylon?
Option 1: Louis Pasteur
Option 2: Joseph Nicephore Niepce
Option 3: John Corbett
Option 4: Wallace Hume Carothers
Question : Who called political science an 'inexact science'?
Option 1: Johann Kaspar Bluntschli
Option 2: Bryce Ward
Option 3: Jean Bodin
Option 4: Frank Buckle
Question : Who developed the Ryotwari system?
Option 1: Thomas Munro
Option 2: Holt Mackenzie
Option 3: Edmund Burke
Option 4: Lord Dalhousie
Question : The Walker Cup is associated with which of the following sports?
Option 1: Hockey
Option 2: Chess
Option 3: Football
Option 4: Golf
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