As a Process, Entrepreneurship Results in the "Creative Destruction" of Existing

question 45

True/False

As a process, entrepreneurship results in the "creative destruction" of existing products (goods or services) or methods of producing them and replaces them with new products and production methods.

---

Definitions:

Vandalism

Vandalism is the act of intentionally damaging or destroying property, often as an expression of dissent, anger, or for the sake of destruction itself.

Pillars of Capitalism

Fundamental principles or structures supporting the capitalist system, including private property, competitive markets, and profit motive.

Trade Unionists

Individuals who are members of organizations that aim to protect and advance the interests of workers.

Private Ownership

The legal right of individuals or entities to own property and assets, allowing for control and use as deemed fit by the owner.