Entrepreneurial individuals have fewer economic incentives to develop valuable new innovations in market economies than in planned economies.

Question

Quizplus · Accepted Answer

This statement is false. In market economies, entrepreneurial individuals have more economic incentives to develop valuable new innovations because they can directly benefit from their success through profits and market share gains. In planned economies, the government may control the allocation of resources and limit the potential rewards for innovation, leading to less incentive for individuals to take risks and develop new ideas.

Entrepreneurial Individuals Have Fewer Economic Incentives to Develop Valuable New