51. What is the difference between technological and structural change? What are the pros and cons of each?
If a country, industry or market goes through changes in its structure it is evident that there has been a change in the way it operates. The inherent dynamism of the system is key to bringing about structural changes. Technological innovation and new economic trends, global shifts in the reserves of capital and labour as well as shifts in resource availability changes in demand and supply and changes in the political environment can all be considered common triggers for structural changes (Cheng and co. (2018)). However technological changes are an increase in effectiveness of a process or product which results in the production of more, but without resultant in any increase in the input. This is the intended effect of a technological improvement. In a different way someone creates a new technique or product or alters one that is better. This can be utilized to boost income with the same amount of exertion. Cont…
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more