Technological change
What Technological change means in Economics GCSE, as defined for AQA.
Definitions of Technological change
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Reference: AQA
A technological advancement that, along with societal shifts or changes in personal circumstances, can cause needs and wants to change over time.
Technological advances usually increase supply by making production more efficient and lowering unit costs.
Technological advances improve efficiency and increase supply by lowering unit costs.
Topics that use Technological change
- Economic activity (AQA GCSE)
- Supply for goods and services (AQA GCSE)
Related terms
- Government intervention
- Basic economic problem
- Change in supply
- Circular flow of income
- Consumers
- Costs of production
- Distribution of wealth and income
- Economic agents
Using Technological change in the exam
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