Please discuss Kirznerian entrepreneur and Schumpterian entrepreneur. The reasons why Kirznerian entrepreneur moving towards equilibrium and the Schumpterian entrepreneur moving away from equilibrium. Critically examine each theories of entrepreneurship using real-world examples.
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Kirzner and Schumpeterian Entrepreneur
Kirzner’s entrepreneur is a person who, by use of personal creativity, discovers a profitable opportunity that had not been | PLACE YOUR ORDER NOW AT writtask.com | researcher might discover how to mix different gases to produce a combustible gas that can be used as an alternative domestic cooking gas. Since nothing of that sort has been invented, the person becomes | PLACE YOUR ORDER NOW AT writtask.com | be economically viable. In the case of the gas example, such a gas must be found to be of a better advantage than the existing ones. It should either be cost-effective or environmentally friendly (Meyer, Neck, & Meeks, 2017). Schumpeterian entrepreneur, on the other hand…