_________________ is a way of explaining how innovations swept away old technologies, skills, products, ideas, and industries and replaced them with new ones
A)S curve theory
B)transitional phase
C)creative destruction
D)punctuated equilibrium

Question

Quizplus · Accepted Answer

Creative destruction is a theory coined by economist Joseph Schumpeter, which explains how the introduction of new products, technologies, or services can disrupt existing industries, rendering them obsolete and creating new ones in their place. This process is known as creative destruction because it involves both destruction and creation. The term highlights the idea that innovation is not a smooth and continuous process, but rather a series of disruptions that can transform entire economies and societies.

_________________ Is a Way of Explaining How Innovations Swept Away