Asked by Konner Powers on May 18, 2024
Verified
Joseph Schumpeter is most closely associated with the
A) theory of innovations.
B) psychological theory.
C) inventory cycle theory.
D) monetary theory.
Joseph Schumpeter
An economist known for his theories on economic development and creative destruction.
Theory of Innovations
A conceptual framework that explains how new ideas, products, and practices spread within a society or from one society to another, often driving economic growth and social change.
- Associate economic principles and ideas with different historical economic times and policy modifications.
Verified Answer
MG
montine garlandMay 25, 2024
Final Answer :
A
Explanation :
Joseph Schumpeter is most closely associated with the theory of innovations, which he called "creative destruction." He believed that innovation and entrepreneurial activity are the driving forces behind economic growth and development.
Learning Objectives
- Associate economic principles and ideas with different historical economic times and policy modifications.