Replacement Policy

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Abstract
This note presents the results of a questionnaire enquiry into replacement policies used in a sample of firms, mainly in the engineering industry.The enquiry was made as one part of a study of strategic factors in economic growth. This broader study has been focussed on the question : what factors influence the pace at which new and more efficient units of production, whether whole plants or individual machines, are introduced into industry in place of old ones, thus giving rise to increased productivity ?

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