According to Joseph Schumpeter, which of the factors of production is central to economic growth?
A)land
B)labour
C)natural resources
D)the entrepreneur

Question

Quizplus · Accepted Answer

According to Joseph Schumpeter, the entrepreneur is central to economic growth. He believed that it is the entrepreneur's innovations and creative destruction of existing economic structures that lead to economic growth. While land, labour, and natural resources are all important factors of production, Schumpeter placed particular emphasis on the role of entrepreneurship in driving economic progress.

According to Joseph Schumpeter, Which of the Factors of Production