Problem
1. What is meant by the term "creative destruction"? How does the emergence of MP3 (iPod) technology relate to this idea?
2. In a sentence, describe the meaning of the phrase "invisible hand."
3. In market economies, firms rarely worry about the availability of inputs to produce their products, whereas in command economies input availability is a constant concern. Why the difference?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.