Economists who argue that innovation and entrepreneurial activity are

QUESTION

Economists who argue that innovation and entrepreneurial activity are the engines of long-run economic growth, define innovation broadly to include not just new products but also new processes, new organizations,

new organizations, new management practices, and new strategies.
Indicate whether the statement is true or false.

ANSWER

TRUE
There is substantial agreement among economists that innovation and entrepreneurial activity are the engines of long-run economic growth. Those who make this argument define innovation broadly to include not just new products but also new processes, new organizations, new management practices, and new strategies.