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:

Clayton Act

A U.S. antitrust law enacted in 1914 aimed at increasing economic competition and preventing unfair business practices.

Wheeler-Lea Act

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Deaths caused by diseases related to the heart and blood vessels, often used as a measure of the public health impact of cardiovascular disease.

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A medical condition characterized by consistently high blood pressure levels, which can lead to serious health issues if left untreated.