According to Joseph Schumpeter,the Theory of Creative Destruction Describes a Process

question 224

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.

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Definitions:

Maturation

The process of becoming mature; in psychology, it often refers to the development of the mind and the body over time through natural growth processes.

Born Deaf

A condition in which an individual is deaf from birth, often due to genetic reasons or complications during pregnancy or birth.

Cephalocaudal Trend

A principle of physical growth that occurs from the head (cephalo) towards the feet (caudal), commonly observed in early human development.

Cohort Effects

Differences among individuals that stem from being born and raised in different time periods or generations.