The Process by Which New Firms and New Products Replace

question 35

Multiple Choice

The process by which new firms and new products replace existing dominant firms and products is called

• A) monopolistic competition.
• B) the inverted-U process.
• C) process innovation.
• D) creative destruction.

---

Definitions:

Electronic Brainstorming (EBS)

A method of brainstorming that uses electronic devices and platforms to gather ideas and solutions from participants in different locations, enhancing creativity and participation.

Distributive Justice

A principle concerned with the fair allocation of resources among individuals or groups in a society.

Procedural Justice

The fairness and transparency of the processes that lead to outcomes, having an impact on perceptions of fairness in organizational and social settings.

Reward Allocations

The process of distributing benefits, recognition, or compensation among members of a group or organization based on criteria such as performance, contribution, or need.