Identify the measurement base described in each definition, then indicate whether it applies to U.S. GAAP, IFRS, or both.
Definitions:
Creative Destruction
A process through economic innovation in which older models or structures are destroyed to make way for new advancements.
Diffusion
The process by which a technological innovation, cultural trend, or new idea spreads through a population or society.
Innovation
The act of introducing something new or improving an existing product, service, or process to enhance productivity or create value.
Entrepreneurs
Individuals who create new businesses, bearing most of the risks and enjoying most of the rewards.
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