How can the new technology in industry benefit workers?
1.) Technology can move workers out of dangerous jobs where they suffer higher casualty rates which also benefits companies through lower insurance rates. 2.) Technology can make it cheaper for a company to train new workers making an expanded workforce a more attractive option.
How can the use of the new technology in industry benefit consumers?
How can the use of new technology in industry benefit consumers? Consumers have greater access to information. What is one way that technology can improve the distribution of goods? Container ships can transport a number of goods at once.
How can I use of new technology in the industry benefit the US government?
How can the use of new technology in industry benefit the US government? The government can purchase materials from anywhere. The government can rely on automation to reduce costs. The government can react to economic changes quickly.
What is one way that technology can improve the production of good?
What is one way that technology can improve the production of goods? Websites can allow consumers to purchase goods online. Container ships can transport a number of goods at once. Automation can create goods more cheaply and easily.
How does improved technology help the economy quizlet?
How does improved technology allow the economy to operate more efficiently? It helps to make better use of the nation's limited resources.
How does the use of new technology and industry benefit producers more than consumers?
How can the use of new technology in industry benefit producers? Producers can purchase services online. Producers can buy goods 24 hours a day. Producers can contact companies instantly.
How does technology increase employment?
It raises the bar of efficiency, productivity, and safety which is not achievable by humans alone. Also, it will not be for the first time when there will be a shift in employment due to technology. History has been evidence of the fact that technology has been the creator of jobs than the destroyer.
How can the use of new technology in industry benefit the US government Brainly?
How can the use of new technology in industry benefit the US government? The government can purchase materials from anywhere. The government can rely on automation to reduce costs.
What are the benefits of instant communication and sales for Consumers?
What are the benefits of instant communication and sales? Companies can ship goods to customers in an instant. Businesses can be available for customers 24 hours a day. Customers can purchase goods and services online.
How can I use of new technology and industry benefit the US government Brainly?
How can the use of new technology in industry benefit the US government? The government can react to economic changes quickly. fewer jobs are available.
Does technology affect employment?
Improvements in technology adversely affect wages and employment through the displacement effect, in which robots or other automation complete tasks formerly done by workers. Technology also has more positive productivity effects by making tasks easier to complete or creating new jobs and tasks for workers.
How does the use of new technology and industry benefit producers more so than consumers?
How can the use of new technology in industry benefit producers? Producers can purchase services online. Producers can buy goods 24 hours a day. Producers can contact companies instantly.
How can the use of new technology in industry benefit the US government the government can purchase materials from anywhere the government can rely?
How can the use of new technology in industry benefit the US government? The government can purchase materials from anywhere. The government can rely on automation to reduce costs. The government can react to economic changes quickly.
How does new technology affect supply?
Technological advances that improve production efficiency will shift a supply curve to the right. The cost of production goes down, and consumers will demand more of the product at lower prices. Computers, televisions and photographic equipment are good examples of the effects of technology on a supply curve.
What impact did technological advances have on industry?
What was the impact of technological advances on industry? Technological advances increased the supply and demand, the employment rate skyrocketed because they needed to make more things. his also affected the industry by furthering the need for more inventions to meet this production increase.
What are the impact of technology on jobs?
It raises the bar of efficiency, productivity, and safety which is not achievable by humans alone. Also, it will not be for the first time when there will be a shift in employment due to technology. History has been evidence of the fact that technology has been the creator of jobs than the destroyer.
How does technology help in economic development of a country?
In economics, it is widely accepted that technology is the key driver of economic growth of countries, regions and cities. Technological progress allows for the more efficient production of more and better goods and services, which is what prosperity depends on.
How can technology help developing countries?
The adoption of technology by developing countries has had profound effects on their economies, such as reducing the national costs of production, establishing standards for quality, and allowing individuals to communication from a distance.
How has information technology impacted the economy?
In economics, it is widely accepted that technology is the key driver of economic growth of countries, regions and cities. Technological progress allows for the more efficient production of more and better goods and services, which is what prosperity depends on.
What are the benefits of instant communication and sales for consumers?
What are the benefits of instant communication and sales? Companies can ship goods to customers in an instant. Businesses can be available for customers 24 hours a day. Customers can purchase goods and services online.
How does technology increase job opportunities?
Throughout history, machines have helped workers to produce more output. In spite of concerns that automation would get rid of jobs or cause mass unemployment, technology has continually led to the creation of new jobs. In fact, history has proven that as labor productivity grew, so too did job growth.
How does automation and technology affect work?
The “new automation” of the next few decades—with much more advanced robotics and artificial intelligence (AI)—will widen the range of tasks and jobs that machines can perform, and have the potential to cause much more worker displacement and inequality than older generations of automation.
Can technology be considered as a factor of production?
While not directly listed as a factor, technology plays a vital role in influencing production. In this context, technology has a fairly broad definition and can refer to software, hardware, or a combination of both used to streamline organizational or manufacturing processes.
How does improvement in technology affect supply and demand?
Technological advances that improve production efficiency will shift a supply curve to the right. The cost of production goes down, and consumers will demand more of the product at lower prices. Computers, televisions and photographic equipment are good examples of the effects of technology on a supply curve.
How does technology influence our ability to deliver quality supply chain practices?
Technology reduces labor costs by streamlining data-capture and reducing error-prone manual processes. Access to real-time, up-to-date information across the entire supply chain is having a significant impact on how companies are doing, and expect to do business.
How does technological change affect employment?
The evidence is clear that technological change has reduced the need for routine mechanized work and increased both the demand and pay for high-skilled technical and analytic work. The impact of automation and artificial intelligence is an acceleration of a trend decades in the making.
Which industry has benefited the most from technology advancement?
3 industries that will benefit from IT advances in 2018
- The healthcare industry. This particular industry won't come as much of a surprise to most in the IT or healthcare fields. …
- The lifestyle industry. …
- The marketing industry.
Jan 23, 2018
What are the 10 advantages of technology?
Advantages of Technology on Our Lives
- Ease of Access to Information.
- Saves Time.
- Ease of Mobility.
- Better Communication Means.
- Cost Efficiency.
- Innovation In Many Fields.
- Improved Banking.
- Better Learning Techniques.
What are the benefits of technology?
Here are some advantages of technology in our lives:
- Ease of Access to Information.
- Saves Time.
- Ease of Mobility.
- Better Communication Means.
- Cost Efficiency.
- Innovation In Many Fields.
- Improved Banking.
- Better Learning Techniques.
How has new technology contributed to the growth in services?
The introduction of technology in service sector gives us more than service automation and the ability to provide service at a lower cost. It also gives us the opportunity to gather customer data, analyze customer data, and use the data analysis to better meet customers' needs and result into customer satisfaction.