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Question

What are the three stages of technological change?


A
Invention, innovation and diffusion
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B
Implementation, testing and launch
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C
Innovation, feasibility and launch
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D
Plan, act and do
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Solution

The correct option is C Invention, innovation and diffusion

Technological change is a change in production process which results in increase in output. It involves three stages Invention, Innovation, Diffusion.

  • Invention: the creation of a new product or process.
  • Innovation: the application of the invention for the first time.
  • Diffusion: how fast others begin to adopt the innovation.


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