Economics · Theories of Development
The applicability of Schumpeter's theory of development to underdeveloped countries is primarily limited because:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It neglects the critical role of voluntary savings as a source of finance.✓
- 2It completely neglects the objective of economic development.
- 3It is designed solely for countries with extremely large populations.
- 4It assumes high illiteracy rates in developing countries.
Correct answer
It neglects the critical role of voluntary savings as a source of finance.
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