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technology gap
1. A time lag between the appearance of a new technology and its acquisition by a country. 2. The presence in a country of a technology that other countries do not have, so that it can produce and export a good whose cost might otherwise (if other countries had the same technology but different factor prices) be higher than abroad.
- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Economy
- Category: International economics
- Company: University of Michigan
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