Creative destruction refers to older production techniques and processes being replaced by newer, more advanced ones.

Name: Creative destruction refers to older production techniques and processes being replaced by newer, more advanced ones.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Creative destruction is a concept in economics which suggests that old ways of doing things are destroyed and replaced by new and innovative methods, leading to progress and improvements in productivity and efficiency.

Creative Destruction Refers to Older Production Techniques and Processes Being