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Question:
Technological innovation is now often the single most important competitive driver in many industries. Many firms receive more than one-third of their sales and profits from products developed within the past five years.
Technological innovation increases knowledge and makes more options available. On the whole, evidence suggests that technological innovation has increased GDP and standards of living worldwide. Consider the impact of technological innovations and respond to the following:
What are some of the disadvantages of technological innovation? Give at least two examples.
How has technological innovation enhanced our lives? Give at least two examples from your own experience.
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