"Creative destruction" in a market system is brought about by
A) entrepreneurship.
B) striking workers.
C) regulation by the government.
D) money-based trade.

Question

Quizplus · Accepted Answer

Creative destruction is a process where new businesses and industries replace old and outdated ones. This process is mainly driven by entrepreneurship, where individuals see opportunities for innovation and start new ventures, leading to competition and the eventual decline of established firms that are unable to adapt to these changes. It is not caused by striking workers, government regulation, or money-based trade.

"Creative Destruction" in a Market System Is Brought About by