Explain what is the social value

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Reference no: EM1348266

One characteristic of products that consumers utilized to value was that products were made to last. Now with technology products like video games, cell phones and televisions there always seems to be a new version of the product that was just released. Numerous consumers will buy the latest version even though the version they have still meets all their needs. Explain what is the social value of this and is it economic waste?

Reference no: EM1348266

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