Question:

Who can explain the difference between 'demand destruction' and 'less demand as price increases'?

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Like you would explain it to somebody who is not expert in economics but is not completely stupid. I don't consider myself stupid but these seem like the same to me.

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  1. "demand destruction" is not an economics term, it sounds like something a journalist would use for drammatic decrease in demand even though price stays the same.

    E.g. innovation that makes substitutes cheaper, like digital cameras destroying demand for Kodak film, or cell phones destroying demand for land-lines. Schumpeter coined the term "creative destruction" for situations like this.

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