According to Joseph Schumpeter, the Theory of Creative Destruction Describes

question 203

Multiple Choice

According to Joseph Schumpeter, the theory of creative destruction describes a process by which

• A)some new products unleash a gale of destruction that drive other new products out of the market.
• B)new products unleash a gale of destruction that drives old products out of the market.
• C)new products are created by the destruction of capital.
• D)the creation of new products never involves the destruction of old products.
• E)new products are bought out by existing large firms in their efforts to "destroy" competition.