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What is the primary purpose for technology in economic activities?
Wiki User
∙ 11y ago
Usually improvement in the utilization of economic resources. Economic resources are defined as land, labor, capital, and human capital (ie entrepreneurial ability or any skills you might have). The best example is oil which was thought to be useless and gross, and is now very valuable. Technology is estimated to contribute about 25-50% of Real GDP per capita growth, although its extremely difficult to estimate.
Wiki User
∙ 11y ago
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