II.AwayWiththeOld!InwiththeNew! Apple caused quite a stir when the company stopped putting floppy disk drives on its computers.

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II.AwayWiththeOld!InwiththeNew!

Apple caused quite a stir when the company stopped putting floppy disk drives on its computers. Many con sumers were angry that they could not retrieve informa tion stored on their floppy disks. The company defended this move by saying that floppy disks were becoming obsolete, and that consumers would abandon floppy disks for flash drives, which were smaller and could hold more information.

a. The process by which older, less efficient technologies, like floppy disks, are replaced by newer, more efficient technologies, like flash drives, is called

.

b. What are other recent examples of creative destruction? (Hint: Try an Internet search for obsolete products that are still manufactured to get ideas.)

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Related Book For  book-img-for-question

Fundamentals Of Economics

ISBN: 9781133956105,9781285531847

6th Edition

Authors: William Boyes, Michael Melvin

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