Technology has revitalized the Indian economy - it was a new industry that could employ many of India's people.
AnswerRole of information communication technology in Indian economic growth?AnswerRole of information communication technology in Indian economic growth?
Technology has revitalized the Indian economy - it was a new industry that could employ many of India's people.
R. S. Mathieson has written: 'Japan's role in Soviet economic growth' -- subject(s): Foreign economic relations, Joint ventures, Technology transfer
Real business cycle models suggest that technology plays a significant role in driving economic fluctuations. Technological advancements can lead to changes in productivity levels, which in turn affect business cycles by influencing investment, consumption, and overall economic growth. This means that fluctuations in technology can have a direct impact on the overall health of the economy.
Technology has revitalized the Indian economy - it was a new industry that could employ many of India's people.
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1. It contributes to the growth of the economy.
Science and technology play a crucial role in addressing global challenges such as climate change, public health, and economic development. They also drive innovation, improve communication, and enhance the quality of life for many people around the world. Additionally, scientific advancements have the potential to promote sustainable development and create new opportunities for economic growth.
See: India/Opium Trade
Entrepreneurship plays a crucial role in economics by driving innovation and economic growth. Entrepreneurs create new products, services, and business models that can disrupt industries, create jobs, and stimulate economic activity. For example, companies like Apple, founded by Steve Jobs and Steve Wozniak, revolutionized the technology industry with products like the iPhone, leading to significant economic growth and job creation.
Foreign-Invested Enterprises (FIEs) play a vital role in integrating foreign capital and technology into a host country's economy. They contribute to job creation, technology transfer, and export growth, strengthening the competitiveness of the domestic market. FIEs also foster economic development and promote international trade and investment.