A decrease in the demand for cameras using conventional film caused by the development of digital cameras is an example of:

Question

Quizplus · Accepted Answer

Creative destruction refers to the process where new innovations lead to the demise of older technologies or products. The development of digital cameras and the subsequent decrease in demand for conventional film cameras is a classic example of this phenomenon, as the new technology (digital cameras) displaces the old (film cameras).

A Decrease in the Demand for Cameras Using Conventional Film