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Technology, Source Of Economic Progress

Author

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  • Viorel V. POP

    (Economics Faculty, V. Goldis Western University of Arad Romania)

Abstract

The progressive nature of scientific research is probably the most impressive example that can be given for the term of "progress", together with the belief that subsequent ages are improvements of the previous ones. Economic analysis of technical progress is to determine the effects of the use of new production methods, upon the performance of the economy. Technical progress, the result of research and development activity, is measured by productivity gains and by increasing the quality of the products. Technical progress can also determine the relative decrease of the price of the new goods, causing the increase of profitability and consumer benefits. Competition motivates companies in developing new products and new technologies for producing goods, less expensive. Innovation is not limited to the adoption of new technology, being the process by which technology is developed step by step, until production structures of the company acquire their new performance features, thus providing variety and higher quality of the products and remarkable fact, more accessible to the average consumer.

Suggested Citation

  • Viorel V. POP, 2013. "Technology, Source Of Economic Progress," Management Intercultural, Fundația Română pentru Inteligența Afacerii, Editorial Department, issue 29, pages 273-279, October.
  • Handle: RePEc:cmj:interc:y:2013:i:29:pop
    as

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    File URL: http://www.mi.bxb.ro/Articol/MI_29_28.pdf
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    References listed on IDEAS

    as
    1. Ştefan MATEI, 2014. "Analysis Of Wine Sector: Developments And Prospects The World And In Europe," Management Intercultural, Fundația Română pentru Inteligența Afacerii, Editorial Department, pages 223-236.
    2. Alexandrina D. CRUCEANU & Izabella ŁĘCKA & Ionel MUNTELE, 2014. "The Health State Our Most Precious Asset? A Short Review," Network Intelligence Studies, Fundația Română pentru Inteligența Afacerii, Editorial Department, issue 4, pages 193-208, November.
    3. Stefan MATEI, 2014. "Analiza mediului extern ce influenteaza activitatea companiilor viticole din zona Moldovei," Management Intercultural, Fundația Română pentru Inteligența Afacerii, Editorial Department, pages 138-141.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Progress Research & Development Innovation Competition;

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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