Question

In: Economics

Do you agree with the idea that “technology shrinks the world?” Discuss.

Do you agree with the idea that “technology shrinks the world?” Discuss.

Solutions

Expert Solution

Technology shrinks the world..AGREED

When we states that the world is shrinking it does that mean that the world is growing smaller and smaller everyday, however the concept indicates the shrinking world is actually due to the technology has impacted the world we live in today. The advancement of improved technology in today's world has made the globe appear to be smaller than it actually is because of the fact that we have everything we need within a touch of a button. The biggest approach that technology has made the world smaller is through the internet. Technology is mapping the globe instant communication that comes by virtue of technology can be viewed as a biggest thing as it improves productivity, connectivity, and enables business to move quicker than in the past.

Technology helps for instant access to news from around the world at the click of a button. It has also modified how traditional business is done and has made it simpler more efficient, and more effective. Moreover allowed social media to flourish which, in turn, has given companies the ability to supply people with the opportunity to communicate and associate with others. Consumers can communicate and view with the company, promote businesses, and boost it through sharing, resulting in growth and shrinking the world


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