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Why do improvements in communication technology allow people to make better economic decisions?
Wiki User
∙ 6y ago
Better communication makes it easier to get the information needed to come to a well-informed decision. Consumers can do price-comparison shopping, access other buyers' reviews, and use online payment methods. Access to news, rebates, recalls, and other information about financial matters and purchasing gives people a wide range of up-to-date perspectives that can impact personal finances.
Wiki User
∙ 6y ago
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What is the relation between economic decision and technical decision?
Technical decisions can provide insight into economic decisions that need to be made. Technology can be used to discover outcomes and determine how long it will take to pay something off, such as a mortgage.
Who makes the economic decisions in Australia?
who makes australia's economic decisions
An economic system in which the central government directs all major economic decisions?
an economic system in which the central government directs all major economic decisions
Information has the quality of relevance when it influence the economic decisions?
Information has the quality of relevance when it influence the economic decisions?
Because subjective decisions are based on a person's unique values and beliefs economic decisions .?
Economic decisions are based on whether the decision is profitable or not. For instance, businesses make economic decisions about when to hire employees.
Which of the following best explains why improvements in communication technology allow people to make better economic decision?
Better communication makes it easier to get the information needed to come to a well-informed decision. -Apex :)
What is the role of Information Communication Technology in Indian Economic Growth?
AnswerRole of information communication technology in Indian economic growth?AnswerRole of information communication technology in Indian economic growth?
What best explains why improvements in communication technology allow people to make better economic decision s?
Advancements in communication technology have significantly impacted the way people make economic decisions. These improvements enable access to real-time information, enhance the speed of communication, and facilitate global collaboration, which ultimately leads to better decision-making. One key factor is the increased access to information. With the internet and mobile devices, individuals can now access a wealth of data on markets, trends, and economic indicators from anywhere at any time. This empowers them to make well-informed decisions based on up-to-date and accurate information. The speed of communication has also increased dramatically, allowing for faster decision-making. This is particularly important in situations where time-sensitive decisions are crucial, such as stock trading or currency exchange. Quick access to the latest data and instant communication with other parties enable people to make informed choices in rapidly changing environments. Moreover, communication technology has made it possible for people to collaborate with others across the globe. This global connectivity fosters the exchange of ideas, knowledge, and expertise, which in turn enhances the quality of economic decisions. Diverse perspectives and insights contribute to better understanding and more informed decision-making in both personal and professional contexts. In conclusion, improvements in communication technology have played a vital role in enabling people to make better economic decisions. By providing access to real-time information, speeding up communication, and promoting global collaboration, these advancements have empowered individuals to make more informed choices that optimize their economic well-being.
What has the author A L Norman written?
A. L. Norman has written: 'Informational society' -- subject(s): Communication, Economic aspects, Economic aspects of Information technology, Information technology, Social aspects, Social aspects of Communication, Social aspects of Information technology, Technology and civilization
What is the impact of information communication technology in the economic development?
the impact of ict and the use of it in schools
What is the relation between economic decision and technical decision?
Technical decisions can provide insight into economic decisions that need to be made. Technology can be used to discover outcomes and determine how long it will take to pay something off, such as a mortgage.
Who makes the economic decisions in Australia?
who makes australia's economic decisions
How do technologies affect our economic decisions?
the consumer economic decisions can affect the price and supply of a commodity
What has the author Maurice Estabrooks written?
Maurice Estabrooks has written: 'Electronic technology, corporate strategy, and world transformation' -- subject(s): Business enterprises, Communication systems, Computer networks, Economic aspects, Economic aspects of Information technology, Information networks, Information technology, Management, Strategic planning
An economic system in which the central government directs all major economic decisions?
an economic system in which the central government directs all major economic decisions
Information has the quality of relevance when it influence the economic decisions?
Information has the quality of relevance when it influence the economic decisions?
Because subjective decisions are based on a person's unique values and beliefs economic decisions .?
Economic decisions are based on whether the decision is profitable or not. For instance, businesses make economic decisions about when to hire employees.
