Q.1 What is technological innovation? Explain the various types of innovation.?
ANS- Technological innovation is the economic function through
which new technologies are introduced into production and consumption.
It entails recognizing new technological possibilities, organizing the human
and financial resources needed to transform them into useful
products and processes, and sustaining the requisite activities.
It is important because technological advances have played a key role
in facilitating radically improved standards of living. Innovation is said
to be endogenous; i.e., it is responsive to changes in demand and supply conditions.
FULL FREE ASSIGNMENT CLIK BELOW