The development of MP3 players that significantly reduce the market for CDs and DVDs would be an example of:
A)specialization.
B)derived demand.
C)roundabout production.
D)creative destruction.

Question

Quizplus · Accepted Answer

Creative destruction refers to the process by which new technologies, products, or services disrupt and eventually replace older ones, leading to changes in markets and the economy. The development of MP3 players and digital music technology has greatly reduced demand for CDs and DVDs, leading to the decline or closure of many music and movie stores, as well as changes in the music and movie industries as a whole.

The Development of MP3 Players That Significantly Reduce the Market