using technology to transform a market or to create an entirely new market is called creating a(n) innovation.

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01-12-2022
Business

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using technology to transform a market or to create an entirely new market is called creating a(n) innovation.

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tutorconsortium271 tutorconsortium271 · Answer 1 · 2022-12-06T04:09:12+01:00

A disruptive innovation is one that uses technology to change an existing market or to create a brand-new one.

What exactly is a market?

A market is a meeting ground for consumers and sellers where they can trade. Market system explains how different companies are categorized and achieve the particular on how fiercely and in what ways they compete with one another for customers' services and goods. The black market, the auction market, and the financial sector are more examples.

What kind of market is most typical?

Oligopoly & monopolistic competition are the two kinds of market structures that are most prevalent. There are only a few companies in an oligarchy, and each one is aware of its competitors. Airlines and automakers are two examples of oligopolistic industry.

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