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Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0077332648Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0077332648 Exercise 2
Describe an innovation in technology, business, or culture that had a major economic impact in your lifetime.
Explanation
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Innovation:
Innovation refers to the creation of new product and services that includes new technology, instruments, institution, market and process.
Impact of innovation:
When there is an innovation in the area of business, technology and culture, it had major economic impact. The innovation in technology like internet and other communication development brings people together and helps to share their knowledge. Also, technology development brings the consumer and seller who are all living in different parts of the world together through online market.
Innovation refers to the creation of new product and services that includes new technology, instruments, institution, market and process.
Impact of innovation:
When there is an innovation in the area of business, technology and culture, it had major economic impact. The innovation in technology like internet and other communication development brings people together and helps to share their knowledge. Also, technology development brings the consumer and seller who are all living in different parts of the world together through online market.
Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
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