Business Studies, asked by nikunjbhutra8, 5 months ago

According to shumpeter, what can be different areas of innovation?

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Answered by Anonymous

1

According to Schumpeter, the process of technological change in a free market consists of three parts: invention (conceiving a new idea or process), innovation (arranging the economic requirements for implementing an invention), and diffusion (whereby people observing the new discovery adopt or imitate it).

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