Joseph Schumpeter view of competition in the business market revolved around:
A) price competition.
B) technological competition.
C) reputational competition.
D) marketing competition.

Question

Quizplus · Accepted Answer

Joseph Schumpeter believed that competition in the business market was centered around technological innovation and advancement, such as the creation of new products and production methods. He referred to this process as "creative destruction," where old ideas and technologies are replaced by new, more efficient ones. Price, reputation, and marketing were not seen as the primary drivers of competition by Schumpeter.

Joseph Schumpeter View of Competition in the Business Market Revolved