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State the Dynamic Theory of Profit? |
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Answer» Dynamic Theory of Profit: 1. This theory was propounded by the American economist J.B.Clark in 1900. 2. Profit is the reward for dynamic changes in society. 3. Static society is one where everything is stationary or stagnant and there is no change at all. 4. There is no role for an entrepreneur in a static society. 5. According to Clark, the following five main changes are taking place in a dynamic society.
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