Examlex
When Apple Computers cut the price of its popular iPhone to spur sales soon after the device's introduction, those who had already bought the phone, or the ___________, were angry.
Demand-Pull Inflation
Inflation caused primarily by an increase in aggregate demand: too many dollars chasing too few goods.
Wage-Price Spiral
A situation where rising wages lead to higher prices, which in turn lead to demands for even higher wages, creating a cycle of inflation.
Joseph Schumpeter
An economist known for his theories on economic development and creative destruction.
Theory of Innovations
A conceptual framework that explains how new ideas, products, and practices spread within a society or from one society to another, often driving economic growth and social change.
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