The Process by Which New Firms and New Products Destroy

question 157

True/False

The process by which new firms and new products destroy existing dominant firms and their products is called creative destruction.Learning Objective: 11-05 Discuss creative destruction and the profit incentives for innovation.Test Bank: I Topic: Technological Advance and Competition

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Definitions:

General Arousal

A physiological and psychological state of being awake or reactive to stimuli, encompassing both physical and emotional components.

Background Emotions

The underlying, often unconscious emotional states that influence individuals' perceptions and behaviors.

Primary Emotions

Basic emotions that are hard-wired into the human brain, universally experienced and recognized across cultures, such as joy, anger, fear, and sadness.

Secondary Emotions

Complex emotional reactions that develop based on one’s feelings about primary emotions, such as shame about feeling fear.