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When quantity supplied and quantity demanded increase due to improved technology what happens?
An increase in technology will cause a shift in supply curve due to lowered production costs. This increased supply will put downward pressure on prices, driving up quantity demanded.
Does a change in producers' technology lead to a movement along the supply curve or a shift in the supply curve?
Changes in a producer's technology can lead to a SHIFT in the supply curve.
What happens to price if supply increases?
Supply will increase.
How does information technology help in increasing efficiency in economy?
Information technology helps with increasing efficiency in the economy because it improves on efficiency of jobs and money relocation.
Why does technology change supply?
Lowers production cost
What describes what technology does?
To improve the economy
Which of the following best describes what technology does?
Improves results
A basic feature of technology is that?
it improves our standard of living
How technology improve the quality of humankind?
Technology helps human answer their thoughts and improves quality of humankind
What improves when technology such as new processes or equipment is developed?
Software development technology and the understanding of phenomena.
Which of the following is the best way to describe what technology does?
Improves results
What is the kind of technology that improves every year?
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How do technology change supply?
It changes supply by how much is bought. The more technology that is bought, the less supply there is. The less that is bought, the more supply there is.
Who intvented technology?
Anything new that improves the lifestyle of man is called technology. Therefore, technology developed since time immemorial.
What is the definition of bio-related technology?
Improves ever day life
Which would best describes what technology does?
Improves Results -marisa
When quantity supplied and quantity demanded increase due to improved technology what happens?
An increase in technology will cause a shift in supply curve due to lowered production costs. This increased supply will put downward pressure on prices, driving up quantity demanded.
