In a Competitive System, Profits from Innovation Represent a Transitory

question 27

True/False

In a competitive system, profits from innovation represent a transitory income that will later tend to be competed away.

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Definitions:

External Reasons

Factors or motivations that come from outside an individual and influence their actions or decisions.

Internal Reasons

Motivations or justifications that are based on personal values, desires, or beliefs.

Internal Locus

The belief that one controls their own destiny and outcomes are directly tied to one's own behavior and actions.

External Locus

It refers to the belief that one's outcomes in life are determined by forces outside of personal control.