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Does the impact of technology increase or decrease the cost of production?
Wiki User
∙ 14y ago
Decrease: Say you have 5 people working on assembling a wheel part for a car. Each person gets 30k a year, so that is already 150k. But if you bought a very updated piece of machinery that would do the same job of those 5 people, you would only have to buy it once. Therefore, technology is said to decrease the cost of production.
;D
Wiki User
∙ 14y ago
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What impact will a negative demand shock have on the main measures of economic performance?
REal GDP will increase , inflation will increase, and unemployment will decrease
Impact computer has on economy?
The computer can be interpreted as an advancement in technology. This in turn will increase the utilization of resources and thus output increases.
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The impact of demand for goods by technology actually lies within how it affects supply. Technology generally lowers the cost of production and increases efficiency, lowering unit costs for good production and thus increasing equilibrium demand. Additionally, secondary effects of technology may come from information: technology imparts information and dependency on those who use it, so they become used to new technology/methods and demand more of it in the future, discarding less efficient methods.
How do substitute goods and complementary goods affect demand for another good?
Substitutes and complements is the fact that a change in price of one of the goods has an impact on the demand for the other good. For substitutes, an increase in the price of one of the goods will increase demand for the substitute good. (It's probably not surprising that an increase in the price of Coke would increase the demand for Pepsi as some consumers switch over from Coke to Pepsi.) It's also the case that a decrease in the price of one of the goods will decrease demand for the substitute good.
How business environment affect the Trend and pattern of industrial growth?
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Do variable costs per unit decrease when sales increase?
Variable cost per unit remains same per unit and has no impact on increase or decrease of sales.
What has been a negative impact on technology?
More waste. APEX
What is the impact of technology on production management decision-making?
paki sagot po ?
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Impact computer has on economy?
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