In the 1800s, railroads broke up the monopoly position of wagons, ships, and barges as the major means of transporting goods. This would be an example of
A) the fast-second strategy.
B) the inverted-U theory.
C) creative destruction.
D) venture capital.

Question

Quizplus · Accepted Answer

The given scenario of railroads breaking up the monopoly position of other means of transportation is an example of creative destruction. It refers to the process where the introduction of a new technology or innovation destroys the existing monopoly position or market share of an established product or service.

In the 1800s, Railroads Broke Up the Monopoly Position of Wagons