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BA 211 Lecture Notes - Lecture 1: Austrian School, Microeconomics, Joseph Schumpeter

59 views7 pages
robert
26 May 2022
School
Eastern Oregon University
Department
Business
Course
BA 211
Professor

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Document Summary

Entrepreneurship theory : perspectives on entrepreneurship, entrepreneurship process, Scholars from different disciplines have come up with agendas or ways of exploring the concept of entrepreneurship and entrepreneur. The perspective have emerged over many years and taken together they provide us with valuable insights into the role of the entrepreneur and the nature of entrepreneurship. The perspectives can be broadly categorized into three: economics, psychological, behavior/processual. Most of the extant theories of the entrepreneur were developed by scholars in the. Austrian school of economics which emphasized on the market processes or market dynamics and entrepreneurial discovery to understand the dynamic character of market and disapproves of the equilibrium models of markets. The austrian school of economics observe that the standard neoclassical micro- economics for which the general equilibrium model is the analytical core, fails to offer a satisfying theoretical framework for understanding what happens in the market economies.

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Related Questions

Get hold of the Labor Code of the Philippines. List about 10 Labor Code provisions that the entrepreneur should comply with in managing his business with regards to his or her workers. Prepare a collage on this using a bond paper

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c)that clever market strategies may still fail to sell a product
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