Asked by Diego Fuentes on Jun 23, 2024
Verified
With the creation and growth of the Internet, vacationers can now book their own flights, hotels, rental cars, and other travel logistics online. If this capability resulted in creative destruction, which of the following industries would we have expected to decline the most as a result?
A) airlines
B) travel agencies
C) tourist information
D) hotels
Creative Destruction
A process where new innovations lead to the demise of older technologies or businesses, driving economic growth and progress.
Internet
A global network of interconnected computer networks that enables users to share information and communicate over vast distances.
Travel Agencies
Businesses that specialize in planning and booking travel accommodations and experiences for individuals and groups.
- Determine the merits of creative destruction and innovation in wholly competitive markets.
Verified Answer
Learning Objectives
- Determine the merits of creative destruction and innovation in wholly competitive markets.
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