Explain How Technological Progress Is a Source of Economic Growth

question 13

Essay

Explain how technological progress is a source of economic growth.

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Definitions:

Abstract Method

A method that is declared in an abstract class without an implementation. Subclasses inheriting the abstract class must provide an implementation for the abstract methods.

Abstract Class

A class in object-oriented programming that cannot be instantiated on its own and is designed to be subclassed, defining or inheriting common characteristics for subclasses.

Polymorphism

The ability in programming to present the same interface for differing underlying forms (data types), allowing methods to be used in a more generic way.

Dynamic Binding

Dynamic binding is a programming concept where the code to be executed in response to function calls is determined at runtime.