Question : The development process under capitalism has been described as "creative destruction" by:
Option 1: Joseph Schumpeter
Option 2: Karl Marx
Option 3: Norwood Russell Hanson
Option 4: J. S. Mill
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Correct Answer: Joseph Schumpeter
Solution : The correct answer is Joseph Schumpeter.
The term "creative destruction" refers to the innovation and technological development process that results in the eradication of existing economic structures, such as industries, businesses and jobs. It was coined by economist Joseph Schumpeter.
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Question : Who is called the "Father of Economics"?
Option 1: Max Muller
Option 3: Adam Smith
Option 4: Alfred Marshall
Question : The time element in price analysis was introduced by:
Option 1: J. M. Keynes
Option 2: Alfred Marshall
Option 3: J. S. Mill
Option 4: J. R. Hicks
Question : By whom was the autonomous investment separated from induced investment?
Option 1: Joseph Alois Schumpeter
Option 2: Thomas Robert Malthus
Option 3: Joan Robinson
Option 4: Adam Smith
Question : Who propounded the Innovation theory of profits ?
Option 1: J .A. Schumpeter
Option 2: P .A. Samuelson
Option 3: Alfred Marshall
Option 4: David Ricardo
Question : Karl Marx wrote
Option 1: Asian Drama
Option 2: Emma
Option 3: Das Kapital
Option 4: Good Earth
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