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    Exam 4: The Market System and the Private and Public Sector
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    The Market Process by Which New Products and New Firms
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The Market Process by Which New Products and New Firms

Question 17

Question 17

Multiple Choice

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


A) technology transfer.
B) marginal rate of substitution.
C) capital replacement.
D) creative destruction.
E) market saturation.

Correct Answer:

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