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Chapter 21: Q 51. (page 523)

What are some examples of innovative products

that have disrupted their industries for the better?

Short Answer

Expert verified

There are various examples of disruptive innovation which are good.

Step by step solution

01

Step 1. Definition

Innovative products are the products that can inaugurate new technologies or a new way to do or to have something. This term innovative disruption is coined by late academic and consultant Clayton M. Christensen.

02

Step 2. Explanation

These are some examples of disruptive innovation in today's time:

1). Netflix

Netflix is a very great example of a victorious disruptive innovation strategy. From start, it used to be a company that supplies DVDs, and now it offers a pennywise and convenient product to a region of the market that was previously not targeted.

2). iTunes

The combination of iTunes with iPod is the perfect example of disruptive innovation because it locked iPod users to apple products. As it offered convenience and the least price point at which an iPod user buys iTunes. And as a result, Walkman’s, CDs, DVDs, mp3 are all considered to be classical artifacts in present days.

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Most popular questions from this chapter

Explain how a subsidy on agricultural goods like sugar adversely affects the income of foreign producers of imported sugar.

What are main reasons for protecting “infant industries”? Why is it difficult to stop protecting them?

Explain how a tariff reduction causes an increase in the equilibrium quantity of imports and a decrease in the equilibrium price. Hint: Consider the Work It Out "Effects of Trade Barriers."

The country of Pepperland exports steel to the Land of Submarines. Information for the quantity demanded (Qd) and quantity supplied (Qs) in each country, in a world without trade, are given in Table 21.6 and Table 21.7.

a. What would be the equilibrium price and quantity in each country in a world without trade? How can you tell?

b. What would be the equilibrium price and quantity in each country if trade is allowed to occur? How can you tell?

c. Sketch two supply and demand diagrams, one for each country, in the situation before trade.

d. On those diagrams, show the equilibrium price and the levels of exports and imports in the world after trade.

e. If the Land of Submarines imposes an antidumping import quota of 30, explain in general terms whether it will benefit or injure consumers and producers in each country.

f. Does your general answer change if the Land of Submarines imposes an import quota of 70?

What might account for the dramatic increase in international trade over the past 50 years?
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