As cellular phones have become more affordable and more common, fewer people have landline telephone service to their homes. Let's pretend that landline telephone providers had gone out of business (instead of branching out, as they have). The disintegration of one business because of lack of competition is known as

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The term "creative destruction" refers to the process by which the creation of new products, services, or technologies leads to the demise of older ones. In this scenario, the rise of cellular phones and their affordability leading to the decline of landline telephone service exemplifies creative destruction, where innovation displaces outdated technologies or services.

As Cellular Phones Have Become More Affordable and More Common