Creative Destruction Is

question 129

Multiple Choice

Creative destruction is

• A) the process by which large firms buy up small firms.
• B) the process by which new firms and new products replace existing dominant firms and products.
• C) a term coined many years ago by Adam Smith.
• D) applicable to planned economies but not to market economies.

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Definitions:

Coelom

A fluid-filled body cavity found in most multicellular animals, located between the intestinal canal and the body wall, and surrounded by mesoderm tissue.

Endoderm

The innermost layer of cells or tissue of an embryo in early development, giving rise to the lining of the gut and the associated structures.

Mesoderm

The middle layer of an embryo in early development, which will develop into muscles, bones, and circulatory systems.

Nervous System

In most invertebrates, consists of ganglia, sensory cells or sense organs, and networks of neurons. In vertebrates, consists of the brain, spinal cord, sense organs, and nerves; the body’s main regulatory system.