The Advent of Netflix Movie Streaming and Redbox Kiosks Renting

question 113

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:

More Power

Having increased influence, control, or authority over others or over a situation.

Ultimatums

Final demands or conditions issued by one party to another, often threatening specific consequences if not met.

Psychological Imbalance

A state where there is an unevenness in cognitive or emotional aspects within a person, possibly affecting decision-making and behavior.

Lack of Sophistication

Lack of sophistication in negotiations refers to a minimal level of skill, expertise, or complexity displayed by one or more parties.