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Schumpeter

Authored by Hazal Baytok

Business

University

Used 1+ times

Schumpeter
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11 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes Kitchin cycles?

Long-term cycles driven by revolutionary innovations.

Medium-term cycles caused by investment in capital goods.

Short-term cycles caused by inventory adjustments.

Cycles based on changes in agricultural production.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to Schumpeter, which of the following drives economic growth?

Innovation and entrepreneurship.

Government intervention and regulation.

Increased savings and reduced spending

Innovation and entrepreneurship.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which concept is most closely associated with Schumpeter's view of capitalism?

Perfect competition

Creative destruction

Comparative advantage

Keynesian multipliers

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a characteristic of knowledge as a public good?

Cumulative nature

Spillover effects

Non-rivalry

Excludability

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In Schumpeter’s theory, what role do entrepreneurs play in the economy?

They focus on preserving existing industries

They introduce innovations that disrupt markets

They regulate prices and control inflation

They minimize risks by avoiding innovation

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The “creative destruction” process leads to:

Elimination of competition

Continuous economic stagnation

Replacement of old industries by new ones

Preservation of existing business models

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is knowledge considered a public good?

It is always provided by the government

It is only useful in academic settings

It is non-rivalrous and non-excludable

It cannot be stored or transmitted

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