Technological change

Post on 29-May-2015

223 views 1 download

Transcript of Technological change

ECON3

Technological ChangeAnswer all the questions below

1. Explain the three components of technological change2. Differentiate between `innovation’ and ‘invention’ 3. Explain how innovation will effect a firms costs4. Use a diagram to back up your explanation5. Find an example of how innovation has reduced costs

WWW.AQUINASECONOMICSA2.CO.UK@AQUINASECONOMIC