Examlex
The mountain zebra Equus zebra) and the donkey Equus asinus) belong to the same species.
Creative Destruction
A concept in economics that refers to the process by which new innovations lead to the demise of old technologies and economic structures, driving economic growth through renewal.
Joseph Schumpeter
Joseph Schumpeter was a 20th-century economist known for his theories on business cycles, innovation, and the concept of "creative destruction."
Alfred Marshall
A prominent British economist known for his significant contributions to the principles of microeconomics.
Purely Competitive Firm
A company that operates in a market where there are many buyers and sellers, each selling a homogeneous product with no single seller or buyer having the market power to influence prices.
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