Question: The difference between technology and technological change is that a . technology refers to the processes used by a firm to transform inputs into output
The difference between technology and technological change is that
a 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.
b technology is carried out by firms producing physical goods but technological change is an intellectual exercise into seeking ways to improve production.
C technology is productcentered, that is developing new products with our limited resources while technological change is processcentered in that it focuses on developing new production techniques.
d technology involves the use of capital equipment while technological change requires the use of brain power.
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