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The Replacement of Film-Based Still Cameras by Digital Cameras and Recently

question 94

True/False

The replacement of film-based still cameras by digital cameras and recently by digital SLR cameras exemplifies creative destruction.


Definitions:

Ending Inventory

The total value of all the goods available for sale at the end of an accounting period.

Average Unit Cost

The cost incurred for producing a single unit, calculated by dividing the total cost of production by the number of units produced.

Units

A measure of quantity representing the amount of product or service.

Inventory

The quantity of goods or materials that a business has on hand at any given time.

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