Consider two countries: Country A and Country B.Country A is characterized by a command economy,the absence of property rights,high entry barriers for new businesses,and forced child labor.In contrast,Country B is characterized by well-defined private property rights,a developed market system,and no entry barriers for new businesses.Which of the two countries is likely to oppose creative destruction more? Why?
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q85: If an economy imposes entry barriers to
Q86: Comment on how extractive institutions affect
a)The return-to-entrepreneurship
Q87: If the opportunity cost of entrepreneurship increases,the
Q88: How do entry barriers hamper economic prosperity?
Q89: Creative destruction _.
A) is beneficial for all
Q91: Many communist dictators ban the adoption of
Q92: Political creative destruction is likely to be
Q93: What will happen if an economy transforms
Q94: The process in which economic growth destabilizes
Q95: Initially,the creation of railroads was opposed in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents