Examlex
Which term refers to a system in which two parties are capable of winning an election,and third parties receive a significant but minor share of the vote?
Creative Destruction
The process by which new innovations cause older technologies, companies, or products to become obsolete, driving economic growth through continuous renewal.
Dominant Firms
Companies that have a major portion of market share and can significantly influence market conditions and prices.
New Products
Items or services that have recently been introduced to the market and offer new features, functionalities, or benefits to consumers.
Market Economies
Economic systems in which economic decisions and pricing are guided by the interactions of citizens and businesses rather than by central planning.
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