Creative destruction occurs when:
A) companies attempt to destroy the demand for their competitors' product.
B) the periodic emergence of innovation boosts the economy.
C) new technology is born out of the same theories that led to the old technology.
D) firms plan for their products to become obsolete so that consumers will be forced to buy replacements.
Correct Answer:
Verified
Q3: Which is NOT a source of productivity
Q31: Improvements in technology
A) explain most of the
Q50: Whispering Valley Furniture employs five workers working
Q54: According to Schumpeter,the most important activity that
Q57: A production function of the sort that
Q59: Rocky Gap Furniture employs 10 workers working
Q60: Schumpeter's term creative destruction describes the:
A) Luddites'
Q61: The capital-to-labor ratio measures:
A) the average number
Q68: Which of the following does NOT increase
Q127: To have long-term economic growth, the production
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