1. Who developed the theory of scale of the market? a. Joseph Schumpeter b. Milton Friedman c. Adam Smith d. John Maynard Keynes 2. The notion that innovation is promoted by the competitive desire to...

1. Who developed the theory of scale of the market?

a. Joseph Schumpeter

b. Milton Friedman

c. Adam Smith

d. John Maynard Keynes

2. The notion that innovation is promoted by the competitive desire to break production monopolies is known as creative destruction. ____________ (True/ False

3. Which of the following may influence technological progress?

a. The scale of the market

b. Monopolies

c. Research and development spending

d. All of the above

4. A policy of not enforcing patents or copyrights would ____________ the incentive to be innovative