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When a business fails, the assets and resources from that business become unemployed, resu



Which of the following best summarizes the importance of business failure and the central idea of “creative destruction in a market economy”?

a When a business fails, the assets and resources from that business become unemployed,
resulting in higher government subsidies.
b Business failure allows the assets and resources from that business to move into other areas where
they will be more productive.
c Only through frequent business failure will it be possible to avoid income being concentrated into the hands of
a few rich entrepreneurs.
d The new, rival businesses that drive out old competitors tend to be less efficient and less creative than the older established businesses.

Nov 11 2017 View more View Less

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