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Which one of the following scenarios would be an example of creative destruction? Group of answer choices A firm producing food blenders uses cheaper materials
Which one of the following scenarios would be an example of creative destruction? Group of answer choices A firm producing food blenders uses cheaper materials and components which lead to a short life span of their product. The increased wear and tear of industrial tractors leads to their quicker than expected replacement by U.S. farmers. An increased demand for oil from countries such as China and India leads to higher prices of oil on the world market and a more intensive environmentally destructive extraction of oil by existing producers. The introduction of google glasses into the market and a quick rise in their popularity drive companies which produce only smart phones out of business
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