General Studies · Entrepreneurship Development
Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R). Read the statements and choose the correct answer using the codes given below. Assertion (A): Entrepreneurial innovation and experimentation constantly destroy the old and introduce new equilibria, making possible higher standards of living. Reason (R): Markets do not passively tend towards equilibrium until profit margins are wiped out.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both (A) and (R) are incorrect.
- 2(A) is correct, but (R) is incorrect.
- 3Both (A) and (R) are correct, but (R) is not the right explanation of (A).
- 4Both (A) and (R) are correct and (R) is the right explanation of (A).✓
Correct answer
Both (A) and (R) are correct and (R) is the right explanation of (A).
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