Practice question · Match the pairs
Match each theorist to their view of the entrepreneur.
- Knight
- Schumpeter
- Kirzner
- Coase
- Explained why firms exist at all
- Innovator driving creative destruction
- Alert discoverer of overlooked opportunities
- Bearer of uninsurable uncertainty
Hints
- Sort by what each theorist thought the entrepreneur actually does.
- One disrupts, one notices, one bears what cannot be insured.
Show the answer
- Knight → Bearer of uninsurable uncertainty
- Schumpeter → Innovator driving creative destruction
- Kirzner → Alert discoverer of overlooked opportunities
- Coase → Explained why firms exist at all
Why
Three theories of the entrepreneur, plus Coase, whose question was about the firm itself.
Practise The Entrepreneur
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