Asked by Yissel Galarza on Jun 22, 2024
Verified
The development of the digital video camera, which replaced film video cameras, is an example of
A) roundabout production.
B) derived demand.
C) creative destruction.
D) specialization.
Digital Video Camera
An electronic device that records video in a digital format, allowing for easy storage, editing, and playback on various digital devices.
Film Video Cameras
Devices specifically designed to capture moving images on photographic film, historically used in filmmaking and entertainment.
Creative Destruction
A concept in economics introduced by Joseph Schumpeter, where innovation leads to old technologies or products being replaced by new and more efficient ones, driving economic growth.
- Discern and apprehend the principle of "creative destruction" and its impact on the innovation and progression within markets.
Verified Answer
CG
Chelsea GaritoJun 27, 2024
Final Answer :
C
Explanation :
The development of the digital video camera replacing film video cameras is an example of creative destruction, a concept where new innovations lead to the obsolescence of existing technologies or products.
Learning Objectives
- Discern and apprehend the principle of "creative destruction" and its impact on the innovation and progression within markets.