Examlex
Reflect on your experience of satisfaction or dissatisfaction with a product or service.Did you complain? If not,why not? If so,how did the organisation respond? Draw from concepts discussed in Chapter 11 in your response.
Marginal Benefit
The further utility or pleasure gained from consuming one additional unit of a good or service.
Creative Destruction
A concept in economics introduced by Joseph Schumpeter, describing the process by which old industries or technologies are destroyed and replaced by new ones.
"Destroyed" Industries
Refers to industries that have significantly declined or been rendered obsolete due to technological advancements, market shifts, or regulatory changes.
"Created" Industries
Sectors or markets that have emerged as a result of innovation, technological advances, or governmental policy.
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