Question

Creative destruction does not imply:

Group of answer choices

Innovation sparks economic progress

A slowdown in growth

Job destruction is stronger than job creation

More labor will be employed

Consumers dislike obsolete products

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Answer 1

creative destruction involves customer dislike obsolete products because they would be outdated due to the more amount of innovation taking place where it can sparkeconomic growth as well due to more innovation and an example of creative destruction is the removing the existing system and starting the industrial revolution. Creative destruction also implies job destruction is stronger than job creation because some of the jobs outdated due to creative destruction as a result of which you cannot replace them and in this way this cannot be corrected. Creative destruction also involves more labour employment due to revolution and employment sector on the whole.

Therefore (a,c,d,e) are wrong.

however creative destruction does not imply slow down of economic growth because the creativity always implies growth in one form and it is for the boosting of the economy and the best example of it is internet progress has stimulated growth and destroyed various jobs such as travel agents etc.

Therefore (b) slowdown in growth is the answer