Which of the following is an example of a Schumpeterian innovation ?
Correct answer: B. The production and marketing of the Model T Ford in the 19-teens
- A. An existing internet provider provides competition to two other providers in Dayton Ohlio
- B. The production and marketing of the Model T Ford in the 19-teens
- C. The invention of the Stanley steamer
- D. An American buying a stock in the Philippines stock market
Explanation
The Model T represented a commercially implemented new product and production method, fitting Schumpeter's broad concept of innovation. The Stanley steamer is described mainly as an invention, while the other choices involve competition or investment rather than entrepreneurial innovation.
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