Economics A-Level
Innovation and technology
What Innovation and technology means in Economics A-Level, as defined for AQA.
Definition of Innovation and technology
Check what you remember
Read the wording for your board, then hide it and explain Innovation and technology in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
Research and development generates new products and more efficient production processes, while broader technological change renders older methods obsolete.
Topics that use Innovation and technology
- Market structure, static efficiency, dynamic efficiency (AQA A-Level)
Related terms
- Allocative efficiency
- Capital investment
- Collusion
- Conduct
- Dynamic efficiency
- Firm performance
- Market structures
- Productive efficiency
Using Innovation and technology in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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