Creative destruction refers to the process where
A) new products and methods of production are continuously replacing old ones
B) producing more of one good causes you to produce less of another
C) everybody involved is made worse off
D) new ways to destroy buildings are employed

Question

Quizplus · Accepted Answer

Creative destruction is an economic concept where innovation leads to the replacement of outdated products and production methods with new, more efficient ones, driving economic growth and progress.

Creative Destruction Refers to the Process Where