4.3.1 Knowledge and learning in the industry life cycle

In Section 3 we described technology as ‘given’ to firms. Now let us reflect on that idea. We can think of technology as consisting of bodies of knowledge necessary to produce artefacts. An appreciation of the importance of knowledge to economic activity is not new, for it was recognised by the eminent economist Alfred Marshall, who wrote that ‘Capital consists in a great part of knowledge and organisation’ (Marshal
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1 Technological change, demand and costs

The new economy

Over the past 40 years global computing power has increased a billionfold. Number-crunching tasks that once took a week can now be done in seconds. Today a Ford Taurus car contains more computing power than the multimillion-dollar mainframe computers used in the Apollo space programme. Cheaper processing allows computers to be used for more and more purposes. In 1985, it cost Ford
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3.5 More examples of percentages
From politics to cookery, ratios, proportions and percentages are part of everyday life. This unit is designed to help you become more familiar with how figures can be manipulated, then you can check whether that discount really is as big as they claim!
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3.3.2 Try some yourself
From politics to cookery, ratios, proportions and percentages are part of everyday life. This unit is designed to help you become more familiar with how figures can be manipulated, then you can check whether that discount really is as big as they claim!
Author(s): The Open University

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3.2 Converting to a percentage
From politics to cookery, ratios, proportions and percentages are part of everyday life. This unit is designed to help you become more familiar with how figures can be manipulated, then you can check whether that discount really is as big as they claim!
Author(s): The Open University

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1.4 Converting ratios from fractions to decimals
From politics to cookery, ratios, proportions and percentages are part of everyday life. This unit is designed to help you become more familiar with how figures can be manipulated, then you can check whether that discount really is as big as they claim!
Author(s): The Open University

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