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Technology and Innovation

Definition

Technology refers to tools, machines, techniques, systems or methods of organization used to solve problems or improve efficiency. Innovation is the process of creating new ideas, devices or methods from these technologies.

Analogy

Think of technology as ingredients in a kitchen and innovation as coming up with new recipes using those ingredients.

Related terms

Industrial Revolution: A period when major changes in agriculture, manufacturing, mining, transportation had a profound effect on socioeconomic conditions. It’s like moving from cooking over an open fire to using modern appliances.

Scientific Revolution: The rapid advances in scientific knowledge during 16th-17th centuries. This would be akin to discovering entirely new categories of ingredients (like spices from newly discovered lands).

Patent Laws: Legal rights given for inventions preventing others from making or selling them without permission. They're like claiming a unique recipe as your own so no one else can use it without your approval.