What does technology spillover refer to
A)the government's responsibility for subsidizing firms that are engaged in high-tech research
B)a firm's research yields technological knowledge that can then be used by society as a whole
C)when firms engaged in technology research are taxed by the government if that research causes negative externalities in the market
D)when firms invest in the latest production technology, the cost of that technology "spills over" to the prices consumers must pay for the product

Question

Quizplus · Accepted Answer

Technology spillover refers to the situation when technological knowledge gained by one firm can be used by society as a whole, leading to benefits beyond the firm's own gain. This diffusion of knowledge can lead to positive externalities that result in increased productivity, innovation, and economic growth.

What Does Technology Spillover Refer to