Broadly Defined, Technological Advance

question 126

Multiple Choice

Broadly defined, technological advance

• A) can occur in the short run, long run, or very long run.
• B) comprises new and improved goods and services and/or new and improved ways of producing or distributing them.
• C) includes invention but not innovation or diffusion.
• D) includes product innovation but not process innovation.

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Definitions:

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