________ Is the Process of Creating Something New, Which Is

question 57

Multiple Choice

________ is the process of creating something new, which is central to the entrepreneurial process.

• A) Creative destruction
• B) Modernism
• C) Execution
• D) Creativity
• E) Innovation

---

Definitions:

Producers

Entities that create, manufacture, or supply goods and services for the purpose of selling to consumers, businesses, or other producers.

Consumer Surplus

The gap between the total sum consumers are ready and able to spend for a good or service and the actual amount they pay.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded, typically downward sloping to the right, reflecting the inverse relationship between price and quantity demanded.

Market Price

The current price at which an asset or service can be bought or sold in a competitive marketplace.