The advent of Netﬂix movie streaming and Redbox kiosks renting DVD and Blu-ray movies have virtually demolished the market for video rentals from brick and mortar stores such as Blockbuster. This is an
Example of
A) creative destruction.
B) derived demand.
C) capital accumulation.
D) the difference between normal and economic proﬁts.

Question

Quizplus · Accepted Answer

This scenario describes the process of creative destruction, where new technologies or business models disrupt and replace older ones.

The Advent of Netﬂix Movie Streaming and Redbox Kiosks Renting