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Technological change is proceeding at a rapid rate, but there are many challenges such as employees may combat technological change if it is not managed well.
Technological change demonstrates the entire process of the Production outputs enhancement, at a given level of input, through the elements of innovation, invention, and diffusion of technology. It includes both invention and commercialization of the technologies. The technological change resulted in increased productivity and efficiency. On the other hand, it has decreased the cost of production.
It is to note that rapid technological changes pose new challenges for policymaking. It can outrun the government's and society's capacity to adapt to the alterations resulting from the new technologies. Additionally, it can also in turn affect the labor market, raise ethical questions and perpetuate inequalities.
Learn more about technological change: brainly.com/question/1263585
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