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In which example are lower production cost brought about buy the use of technology?
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Use mass production in a sentence?
Mass production is a good way to lower costs of manufacturing process.
Why is Mass Production important?
The technique of mass production makes it possible to produce goods at lower cost, which means that more people can afford to buy those goods, and the standard of living of the population will increase.
How has technology affected farming?
Technology has affected farming by making it possible for fewer people to grow more crops per acre, at lower cost than would otherwise be the case. Technology has also contributed to the decline of the family farm and the rise of large corporate farms that are more like farming factories.
Advantages and disadvantages of zigbee technology?
Zigbee technology has many different advantages and not a lot of disadvantages. Some advantages include lower costs and it can work in any type of market even with low power sensors. A disadvantage is that it is a bit slower than other technologies.
What new building technology made skyscrapers possible?
Two things led to the feasibility of skyscrapers:the cheaper production of mass iron and then light steel beams, which allowed economic construction of high rise buildings that did not lose most of the lower floors to bulky masonry construction;the design of safety elevators which meant people could access floors over 10 stories more easily.
What is an example of lower production costs brought about by the use of technology?
what is an example of lower production costs brought about by technology
How successful generation and utilization of technology lead to economic development?
Technology affects the utilisation rates, marginal productivity, and inter-input returns from production. Development and investment in technology leads to lower production costs, which, in turn, lead to improved social outcomes due to lower unit costs. Technology allows for the expansion of possible production within the same feasibility constraint, allowing Pareto efficient outcomes to be greater than before technological growth.
What is one country of comparative advantage in the production of a certain good?
It has a lower opportunity cost for production of that good.
What are some positive and negative impacts of agricultural technology?
There are many different things that may or may not affect the influences of technology, but a simple one is that it takes away simple jobs in some cases. In another way, production technology can effect local buisnesses. For example, a Wal-Mart could simply destroy a small ice cream shop, for obvious reasons. Many things in production technology, such as building fast working machines, is difficult to program and very expensive. Many wealthy people tend to benifit from mass production, and further, production technology. In a positive way it makes things cheaper, the more you make, the lower the calue goes. In a dangerous enviornment, a robot or some other aspect of technology can be untilized to the benefit of humans.
Who was the person who brought together upper and lower Egypt?
Narmer brought Upper and Lower Egpt together.
Why do you think china is now a favored location for so much high technology manufacturing site for logitech?
Because production costs (especially labor cost) is lower in PRC.
What happens when there is a surplus of imports brought into the US?
Domestic producers competing with imports suffer from lower prices and fewer sales. They have less revenue and resource owners doing the production have less income. However, Domestic consumers enjoy lower prices!
Why are telecommunication devices useful as economic indicators?
Telecommunication devices allow consumers to evaluate products, compare prices, and order products. The devices allow a company to reach more customers, track sales, and see if there are times when sales are higher than usual or lower than usual.
Which would definitely not be the example of price discrimination?
An electric power company charges less for electricity used during off-peak hours when production costs are lower.
When does Country A have a comparative advantage over Country B in the production of televisions?
Country A has a lower opportunity cost for producing televisions.
What effect did the assembly line have on the production and price of cars?
As the assembly line mode of production improved, it took less time to build a vehicle. This resulted in a lower price. As an example, the 1909 Ford Model T sold for $825 but by 1927, the last year of production the price had fallen to $360.
How information technologies increases unemployment?
Information technologies can increase unemployment by automating tasks that were previously done by humans, leading to job displacements. Additionally, globalization facilitated by information technologies can result in outsourcing and offshoring of jobs to countries with lower labor costs. Lastly, technological advancements may require higher skill levels, leaving some workers without the necessary qualifications for new job opportunities.
