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Chapter 20: Q. 51 (page 491)

What are some examples of innovative products that have disrupted their industries for the better?

Short Answer

Expert verified

Some examples of innovative products that have disrupted the industry are:

  1. Merchant cash card
  2. SDL
  3. OKTA
  4. Hello World.

Step by step solution

01

Step 1. Meaning of Innovative Products.

Creation of a new good or service, new method of productio or a new source of raw material is known as innovation.

02

Step 2. Examples of innovative products.

Some examples of innovative products that have disrupted the industry are:

  1. Merchant Cash Card - The specialization of MCC is providing small business loans to companies who are not able to fulfill the rules and regulations of the loans from banks and credit unions.
  2. OKTA -The main purpose of the OKTA is pervasive customer problem search and then solving them with technology.
03

Step 3. Examples of innovative products. 

Some examples of innovative products that have disrupted the industry are:

iii. SDL - SDL is a language translator company that has grown in sales gaining technology.

iv. Hello World - It involves marketing and gamification to grab the maximum number of buyers' attention.

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Most popular questions from this chapter

How does international trade affect working conditions of low-income countries?

Why is the national security argument not convincing?

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

In principle, the benefits of international trade to a country exceed the costs, no matter whether the country is importing or exporting. In practice, it is not always possible to compensate the losers in a country, for example, workers who lose their jobs due to foreign imports. In your opinion, does that mean that trade should be inhibited to prevent losses?

Economists sometimes say that protectionism is the “second-best” choice for dealing with any particular problem. What they mean is that there is often a policy choice that is more direct or effective for dealing with the problem—a choice that would still allow the benefits of trade to occur. Explain why protectionism is a “second-best” choice for:

a. helping workers as a group

b. helping industries stay strong

c. protecting the environment

d. advancing national defense
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