Which of the following best describes the notion of creative destruction?
A. the process whereby goods developed to meet the needs of LDCs are repackaged as low-cost innovative goods for rich countries
B. innovations that create a new market and value network, displacing established firms, products, and alliances
C. the desired break in existing patterns of behavior in response to a highly creative message
D. the termination of old technologies or ways of doing things to make way for new ones, at the risk of hurting some groups in society
D. the termination of old technologies or ways of doing things to make way for new ones, at the risk of hurting some groups in society
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Because of the effects of producing energy and burning fuels, energy policy is deeply connected with __________ policy
A) agricultural B) economic C) environmental D) health care E) welfare
___ is an economic system in which the means of production are held in private hands.
Fill in the blank(s) with the appropriate word(s).