Question 86

The primary function of a new age entrepreneur is innovation. This statement was/is proposed and propagated by :

Solution

Joseph Schumpeter, an economist, is well-known for his theory on entrepreneurship, where he emphasized the role of innovation as the primary function of an entrepreneur. He introduced the concept of "creative destruction," where new innovations disrupt existing markets and drive economic growth. Schumpeter highlighted that entrepreneurs are key agents of innovation in the economy.

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