The Characteristics of the new economy include: Significant levels of technological innovation, investing in innovative activities with new product/services or developments in existing product/services continually coming on stream; Schumpeterian competition High fixed costs in relation to variable costs Fixed costs often sunk costs Potentially long lived assets High levels of uncertainty over the size and longevity of the market for any given product or service Multiple products/services manifesting economies of scope as well as economies of scale. ... To remain competitive an...

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• Grade Level: Undergraduate