Economics · Economic Development
According to Joseph Schumpeter's theory of economic development, what is the primary function of an entrepreneur?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To minimize risks through conventional business models
- 2To manage day-to-day routine administrative tasks
- 3To supply and accumulate initial financial capital
- 4To introduce innovations into the production system✓
Correct answer
To introduce innovations into the production system
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