Examlex
What is meant by leverage?
Creative Destruction
A concept in economics introduced by Joseph Schumpeter, referring to the process where outdated or obsolete products, services, and technologies are replaced by innovative and more efficient ones, driving economic progress.
Destroyed Industries
Sectors or markets that have suffered severe disruption or collapse, often due to technological changes, market shifts, or external disruptions.
Purely Competitive Industries
Industries in which numerous small firms compete against each other, selling identical or very similar products, and where no single firm can influence market prices.
Innovate
The process of creating new ideas, products, or methods, often resulting in improved efficiency, effectiveness, or competitive advantage.
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