The Advent of Netflix Movie Streaming and Redbox Kiosks Renting

question 231

Multiple Choice

The advent of Netflix movie streaming and Redbox kiosks renting DVD and Blu-ray movies have virtually demolished the market for video rentals from brick and mortar stores such as Blockbuster. This is an
Example of

• A) creative destruction.
• B) derived demand.
• C) capital accumulation.
• D) the difference between normal and economic profits.

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Definitions:

Asmat Society

An ethnic group in Papua, Indonesia, known for their intricate wood carvings and significant cultural practices related to ancestry and the spiritual world.

Social Hierarchy

A system of ranking or classifying individuals within a society based on various factors such as wealth, occupation, or familial status, often determining access to resources and power.

Polynesia

A subregion of Oceania, composed of over 1,000 islands scattered over the central and southern Pacific Ocean, characterized by a shared cultural heritage.

Praying Mantis

A predatory insect known for its distinctive posture that resembles prayer, belonging to the order Mantodea.