Solved

What Is the Term Used for the Process by Which

Question 96

Multiple Choice

What is the term used for the process by which an entrepreneur creates or recognizes a new and better product, acquires it, and brings it to market, making older substitutes obsolete?


A) Creative destruction
B) Innovation
C) The substitution effect
D) Backward-bending innovation

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q76: The supply curve of truck drivers is

Q91: What is the most probable reason why

Q92: Agriculture is a sector of the economy

Q93: Increased productivity of workers in manufacturing has<br>A)increased

Q94: Entrepreneurial profits are very low because entrepreneurs

Q95: Suppose the goal of a union is

Q97: Collaborative research is especially important in high-technology

Q98: If wages are above the MRP, a

Q99: Anything that influences a good's price or

Q100: Teenage unemployment rates have consistently been much