Innovation Economics

Joseph Schumpeter popularised which concept in Economics?

• Fiscal austerity

• Laizzez-faire capitalism

• Creative destruction

• Animal spirits

"The mother of invention is"

• Necessity

• Creative spirit

• Luck

• Boredom

Who said "The pandemic pits all of humanity against the virus. I see global innovation as key to limiting the damage."

• Jeff Bezos

• Ye (Kanye West)

• Barack Obama

• Bill Gates

(Multiple answers possible)

Which of the following might best be described as product innovation?

• 
• 
• 
• 

(Multiple answers possible)

Which of the following might best be described as process innovation?

• Offshoring and outsourcing

• Cloud computing services

• Nespresso Coffee Capsules

• Self checkout cashier

The principle that the processing power of computers doubles every two years is known as?

• Metcalfe's law

• Murphy's law

• Moores's law

• Murray's law