Which Economist Created the Theory of Creative Destruction

question 24

Multiple Choice

Which economist created the theory of creative destruction?

• A)William Nordhaus
• B)Joseph Schumpeter
• C)Adam Smith
• D)Milton Friedman

Assess the role and impact of a comprehensive marketing strategy on achieving a firm's goals and objectives.

Understand the definitions and concepts of generic marketing strategies.

Identify the characteristics and organizational implications of differentiation and cost leadership strategies.

Recognize the implementation challenges of hybrid strategies combining differentiation and cost leadership.

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Definitions:

Less Liquid

A term describing an asset that cannot be quickly sold or converted into cash without significant loss of value.

More Liquid

Describes an asset or market that allows for assets to be bought or sold quickly without significantly affecting the asset's price.

Front-end Commission

A fee paid when purchasing shares of a mutual fund, upfront, which reduces the amount invested from the start.

Expense Ratio

The annual fee that all funds and exchange-traded funds charge their shareholders, expressed as a percentage of the fund's total assets.