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This question belongs to Management Entrepreneurship And Innovation

Entrepreneurship and Innovation

?

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.
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 margtns are wiped out.

A) Both (A) and (R) are correct and (R) is the correct explanation of (A) B) Both (A) and (R) are correct, but (R) is not correct explanation of (A) C) (A) is correct, but (R) is incorrect D) Both (A) and (R) are incorrect

Answer & Solution

Correct Answer: Option A

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