technology and technological change

Question: The difference between technology and technological change is that: technology refers to the processes used by a firm to transform inputs into output while technological change is a change in a firm’s ability to produce a given level of output with a given quantity of inputs.Some make a distinction between technical and technological change. To Jacob Schmookler, technological change is “change in knowledge” and technical change is “change in technique” (change in practice). The latter is “the ultimate purpose of technological change” (Schmookler, 1966: 2).3 To Edwin Mansfield, the technicalThe difference between technology and technological change is that: technology refers to the processes used by a firm to transform inputs into output while technological change is a change in a firm’s ability to produce a given level of output with a given quantity of inputs.29/12/2015 · Technological change is an increase in the efficiency of a product or process that results in an increase in output, without an increase in input. Learn more about the definition, advantages, and...Technological change means the technical knowledge used in the production of capital and machinery. The various changes in technology leads to an increase in the productivity of labour, capital and other production factors. Technological progress comprises of creation of skill, new means of production, new uses of raw materials and the widespread use of machinery.










































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