4.1.4.8 Technological change

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Summary - 4.1.4.8 Technological change
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July 2022

2020/2021
A concise summary of 4.1.4.8 Technological change: • The difference between invention and innovation. • Technological change can affect methods of production, productivity, efficiency and firms’ costs of production. • Technological change can lead to the development of new products, the development of new markets and may destroy existing markets. • Technological change can influence the structure of markets.
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