Bookcover of Technical Change
Booktitle:

Technical Change

Economics, Output, Technological Change

VerPublishing (2011-10-25 )

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ISBN-13:

978-613-7-81626-4

ISBN-10:
6137816265
EAN:
9786137816264
Book language:
English
Blurb/Shorttext:
A technical change is a term used in economics to describe a change in the amount of output produced from the same amount of inputs. A technical change is not necessarily technological as it might be organizational, or due to a change in a constraint such as regulation, input prices, or quantities of inputs. It is possible to measure technical change as the change in output per unit of factor input. In free-market economies, technological advances lead to increases in productivity, but at the expense of older, less-efficient means of production, creating a level of subjective risk for which the compensation (in theory) is the return on capital. This rate or return is a reflection of all of the perceived risks associated with the capital financing of the means of production, including technology risks. From a capital finance point of view, advances in technology are the classic definition of systemic market risk.
Publishing house:
VerPublishing
Website:
http://www.betascript-publishing.com
Edited by:
Larrie Benton Zacharie
Number of pages:
104
Published at:
2011-10-25
Stock:
Available
Category:
Economics
Price:
39.00 €
Keywords:
economics, Output, technological change, Outputdynamik

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