Question

plesde answer in mircosft word/ typing format

Explain the difference between technology and technological change.

Answer 1

The difference between technology and technological change is that:

Technology refers to the process used by a firm to change inputs and outputs.

While technological change is a change in a firms capacity to produce a level of output with a given quantity of input.

Technology means a process we want to know how it was implemented.

Where as technological means a process we want to know how it was used for the same.

The branch of knowledge dealing with engineering or applied sciences is called technology.

Where as technological change is an increase in the efficiency of a product that results inout put without an increase in input.