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\nTechnological Change: Invention, Innovation, and Market Incentives\n

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\nThe video is a lecture about the topic of technological change, specifically focusing on the difference between invention and innovation and how they relate to firms and markets. The lecturer discusses the positive effects of...\nThe video is a lecture about the topic of technological change, specifically focusing on the difference between invention and innovation and how they relate to firms and markets. The lecturer discusses the positive effects of technological change on consumer choice and welfare but also points out that these improvements may not always be reflected in GDP figures. The lecture also explores how governments can encourage innovation and invention through patents, research and development tax incentives, and entrepreneur assistance. The lecturer evaluates different market structures and how they can impact technological change, including competitive markets, monopoly markets, and oligopolies.\n
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Resource Details

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Curator Rating
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Educator Rating
Not yet Rated
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Media Length
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11:19
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Grade
12th - Higher Ed
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Subjects
Social Studies & History
3 more...
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Media Type
Instructional Videos
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Source:
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\nKnowMo Economics\n\n
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Date
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2018
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Additional Materials

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Concepts

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economics, markets, products, innovation, productivity, consumers, computers, governments
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Additional Tags

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a-level, lectures, micro, competitive, 6.5a, technological, change, gdp figures, create parts, production line, patent protection, technological change, monopoly power, productive process, price fell, market structure, improved products, competitive markets, process innovation, price, market, encourage, affect, distinction, inventing, worker, increase, effects, development
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Classroom Considerations

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Best For: Explaining a topic
Video is ad-free
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Educator Ratings

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\n\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" aria-label=\"Play video: Technological Change: Invention, Innovation, and Market Incentives\" href=\"/subscription/new\">\"Technological\n\n
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