Creative destruction improves living standards because

Question

Quizplus · Accepted Answer

Creative destruction is the process by which new innovations and technologies replace older, less productive methods. This leads to the destruction of less productive businesses and an increase in productivity, which in turn leads to higher living standards. Therefore, less productive business methods are destroyed, making option D the correct choice. The other options are incorrect as they do not accurately describe the process of creative destruction and how it affects living standards.

Creative Destruction Improves Living Standards Because