ABSTRACT
Technology is a product of the socio-economic and political environment. It represents the information and knowledge of a society as used to accomplish tasks, render service or manufacture products. This chapter describes a study of the technology transfer process within the interdisciplinary conceptual framework of information science. The approach emphasizes the need to recognize and adapt to change. Incorporating information in international economics has raised doubts about the reality of perfect competition in a world in which asymmetry in the production and consumption of information and knowledge is widespread. Economics has studied information as a dependent variable in models intended to explain price searching, purchasing when quality is uncertain, behaviour of insurance policy markets, financial markets and labour signalling markets. Technology transfer theories can also be faulted for assuming that knowledge and information are acquired instantaneously and without cost. The information sector of a country consists of existing technologies, information workers and the regulatory and policy infrastructure.
