The way newly created goods,services,or firms can hurt existing goods,services,or firms refers to

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Creative destruction is the process by which new innovations or businesses can displace existing goods, services, or firms. This can be seen in situations where older technologies or methods are replaced by newer, more efficient ones. While this can lead to job losses in the short-term, it ultimately results in economic growth and progress. Franchising, occupational structure, and incubators do not necessarily have the same effect as creative destruction on existing goods or services.

The Way Newly Created Goods,services,or Firms Can Hurt Existing Goods,services,or