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Development Economics
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Joseph Schumpeter
» Joseph Schumpeter - Practice Questions
Joseph Schumpeter - Practice Questions
1. In “the Theory of Economic Development,” Joseph Schumpeter proposed that _______________ are creative forces which drive economic development.
*
governments
entrepreneurs
children
2. Economist Joseph Schumpeter proposed that as an economy grows and new businesses are created and grow, old businesses and sectors cease to exist and old ideas are replaced by new ideas. This idea is more commonly known as ________________________.
*
creative destruction
the inventive replacement principle
Schumpeter’s paradox
