Consumer Choice in the Creation of High Technology Products in a Developing Country
It is generally accepted that remarkable trends or phenomena of our age are results of rapid progress in science and globalisation of economic activities. Both these trends crucially affect every aspect of society throughout the world. In most developing countries, there is the serious problem of keeping economic development continually coordinated with these two trends. The success of today’s economic development policy will be decisive in the determination of their economic role in the picture of tomorrow’s world economy. As a part of their economic role, it is needless to say, production activity of ‘high-tech’ products are vitally important. It is very desirable for them to make their high-technology industry work as a leading sector. This leading sector has to have possibilities for innovation, or for the exploitation of newly profitable or hitherto unexplored resources that yield a growth-rate markedly higher than the average for the economy. To make their high-technology industry more profitable than the rest of their competition, they have various problems to solve such as technology-base management. But in the end, the problem of demand creation of their ‘high-tech’ products at their home becomes one of the highest priority. We will discuss some aspects of their uniqueness of economic and social factors in their demand of high-tech products.
KeywordsProduction Sector Consumer Choice Technology Base Industrial Good Skill Formation
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