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Yes. As a nation acquires more advanced technology, its manufacturing becomes more efficient, allowing for many of its citizens to enjoy shorter work hours and thus giving them more leisure time in which to spend their money. However, advances in technology can also lead to the mechanization of the workforce and cause people to lose their jobs, so technology can affect an economy both positively and negatively.
What else can I help you with?
Explain growth of the global economy?
There are only three factors that constitute and contribute to economic growth: Labor, Capital, Technology.
How do the people in the NE contribute to the economy of the region?
How do the people in the NE contribute to the economy of the region?
In what ways does technology contribute to the growth and development of the economy?
Technology contributes to the growth and development of the economy by increasing productivity, creating new industries and jobs, improving efficiency in business operations, and facilitating global trade and communication. Additionally, technology enables innovation and the development of new products and services, which can drive economic growth and competitiveness.
What is the difference between traditional economy and tech-advanced economy?
A traditional economy is typically based on agriculture, barter, and subsistence farming, relying heavily on customs and community practices. In contrast, a tech-advanced economy leverages technology, innovation, and digital infrastructure to drive production, trade, and growth, often incorporating global markets and advanced manufacturing techniques. This shift leads to increased efficiency, higher productivity, and greater access to information and services. Additionally, tech-advanced economies tend to have more dynamic labor markets and diverse job opportunities compared to traditional economies.
What concept refers to an economy based on computer technology?
postindustrial economy
What is advanced technology degree?
An advanced technology degree may be a degree focusing on developing advanced technology for businesses. It could also be a degree that focuses on working with advanced technology.
What is advanced technology?
An advanced technology degree may be a degree focusing on developing advanced technology for businesses. It could also be a degree that focuses on working with advanced technology.
What was An organized society with advanced technology working governments vast farming tracts art science trade and an economy called?
A civilization
Explain growth of the global economy?
There are only three factors that constitute and contribute to economic growth: Labor, Capital, Technology.
How advanced is Australia's technology?
Australia's technology is as advanced as the technology in all other developed countries.
When was Advanced Technology Group created?
Advanced Technology Group was created in 1986.
When was Advanced Technology College created?
Advanced Technology College was created in 2001.
When was Advanced Cell Technology created?
Advanced Cell Technology was created in 1994.
When was Advanced Technology Ventures created?
Advanced Technology Ventures was created in 1979.
Is a camera an example of advanced technology?
Well it depends on the camera, for example a disposable camera is not advanced technology it is merely technology. However cameras on satellites are very advanced technology, they are always watching!
How do the people in the NE contribute to the economy of the region?
How do the people in the NE contribute to the economy of the region?
Did NOT contribute to a weakened economy in the Roman Republic?
You need to specify who or what did not contribute to a weakend economy.
