BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Wealth of Nations-Marshall
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Principles of Economics-Crowther
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Ten Great Economists-J. A. Schumpeter
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An Outline of Money-J.M. Keynes
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Detailed explanation-1: -Schumpeter is best known for his theories on business cycles and the development of capitalist economies, and for introducing the concept of entrepreneurship. For Schumpeter, the entrepreneur was the cornerstone of capitalism-the source of innovation, which is the vital force driving a capitalist economy.
Detailed explanation-2: -Joseph Alois Schumpeter (German: [ˈʃʊmpeːtɐ]; February 8, 1883 – January 8, 1950) was an Austrian political economist.
Detailed explanation-3: -Schumpeter also provides the reader of Theory with his famous list of the five main types of innovations: “a new good, ” “a new method of production, ” “a new market, ” “a new source of supply of raw materials, ” and “the carrying out of a new organization of any industry” (Theory, 66; emphasis added).