Within Chapter 10, it mentioned "creative destruction." What is this concept all about?

A) The idea that a competitive marketplace will also be a creative one and that we should see new technologies and inventions as entrepreneurs try to "out do" each other.

B) When downloading music became popular this pretty much eliminated the need for physical audio CDs. This was one example of creative destruction.

C) Centrally planned communist economies (i.e. North Korea, Cuba, China) or a rigidly controlled socialist economies (i.e. Venezuela) simply do not have a historical track record in inventing and creating new ideas, technologies, and innovations versus their counterparts who operate in an entrepreneurial-driven free market system that encourages competition, profit maximization, and innovation. Something extra to think about: Why do so many rigidly controlled economies end up stealing ideas, technologies, and inventions from free market economies?

D) All of the statements are true and help to describe what creative destruction is all about.