The replacement of the phonograph by the cassette tape player and the eventual replacement of the latter by CD and MP₃ players is an example of
A)economies of scale.
B)planned obsolescence.
C)diseconomies of scale.
D)creative destruction.

Question

Quizplus · Accepted Answer

The replacement of one technology by another is an example of creative destruction, which is a process of continuous innovation that disrupts existing technologies, rendering them obsolete. The replacement of the phonograph by the cassette tape player, and later by CD and MP3 players, is an example of this process.

The Replacement of the Phonograph by the Cassette Tape Player