Because it replaces existing products and methods of production, entrepreneurship is a process of:
A) harnessing the human potential.
B) creative destruction.
C) creation of opportunity.
D) exploitation of innovation.

Question

Quizplus · Accepted Answer

Creative destruction is a term coined by economist Joseph Schumpeter to describe the process by which new innovations and business models disrupt and replace established products and methods of production. Entrepreneurship often involves the creation of new ideas and technologies that can lead to creative destruction, driving innovation and economic growth.

Because It Replaces Existing Products and Methods of Production, Entrepreneurship