The emergence of self-driving cars is an example of ""creative destruction"" because.

Business

1 answer:

Schach [20]3 years ago

8 0

This is because: Self-driving cars will be less expensive to build than current cars.

<h3>What is creative destruction?</h3>

This term was coined by Joseph Schumpeter. The concept of creative destruction refers to the process of economic innovation, in which some products are replaced by others, or some firms die because they are driven out of the market by others, and so on.

When a company produces a new good that makes the old ones already in the market obsolete, the company is said to be creatively destroying the old goods.

An classical example of creative destruction occurred when Steve Jobs introduced the Iphone in 2007.

Therefore, the emergence of self-driving cars is an example of ""creative destruction"" because self-driving cars will be less expensive to build than current cars

Learn more about creative destruction here : brainly.com/question/4303014

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