In recent years, wireless cellular telephones have been replacing land-line phone service. This is an example of
A) economies of scale.
B) division of labor.
C) creative destruction.
D) entry barriers into a market.

Question

Quizplus · Accepted Answer

The replacement of land-line phone service by wireless cellular telephones is an example of creative destruction, where newer and better technologies disrupt and replace older ones. This is a common feature of capitalist economies, where innovation and competition drive progress and growth.

In Recent Years, Wireless Cellular Telephones Have Been Replacing Land-Line