Question

How fast does technology need to grow by to overcome limits from resource constraints and limited land:
a) so output is still rising
b) so output per person is still rising

Answer 1

Abstract

Technology is an important factor that an change substances into resources and make the optimum utilization of limited resources by resolving issue of constraint to make expansion of plant and profit maximization.

Technology can become an effective tool by implementing the ideas, knowledge, inventions and discoveries that lead to the creation of more resources.

Every technological system makes use of seven types of resources: people, information, materials, tools and machines, energy, capital and time.

Each discovery or invention leads to many others. For Example, The discovery of fire led to the practice of cooking and other processes.

In today’s environment, companies are under increasing pressure to deliver innovative, technologically advanced products and services with shrinking budgets. But they have limited resources such as Land, unavailability of water supply and electricity.

Therefore with the help of technological advancement companies can make the perfect and optimum utilization of limited resources.

The key is ensuring that your resources are working on projects aligned to strategic corporate goals, that match their skill sets and where they have adequate bandwidth by maximum application of technology driven system.