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:
Verified
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Q193: Which economist created the theory of creative
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Q197: A minimum wage
A)increases the number of unskilled
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Q199: The fact that invention is based largely
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