The Concept of Creative Destruction Was Introduced by Joseph Schumpeter

question 56

True/False

The concept of creative destruction was introduced by Joseph Schumpeter.

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Definitions:

Front-end Load

A commission or sales charge applied at the time of the initial purchase of an investment, usually used in mutual funds.

Back-end Load

A fee paid by an investor when shares are sold, typically used in mutual funds, where the fee decreases over time the investment is held.

Annual Fees

Refers to the yearly charges associated with having an account, typically found in credit cards or investment accounts, to cover account management services.

12b-1 Fees

These are annual fees charged by a mutual fund to cover marketing, distribution, and sometimes administrative expenses, directly reducing the fund's return to its investors.