Technological change
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ECON3 Technological Change Answer all the questions below 1. Explain the three components of technological change 2. Differentiate between `innovation’ and ‘invention’ 3. Explain how innovation will effect a firms costs 4. Use a diagram to back up your explanation 5. Find an example of how innovation has reduced costs WWW.AQUINASECONOMICSA2.CO.UK @AQUINASECONOMIC
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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