Question

In: Economics

Please answer all in microsoft word Using a real world examples, explain the difference between technology...

Please answer all in microsoft word

Using a real world examples, explain the difference between technology and technological change; explain how technological change can be positive; and, explain how technological change can be negative. Use comprehensive definitions, real world examples, and comprehensive applications in your answer

Solutions

Expert Solution

Technology Technological Change
The usage of skills and methods for the production of good and services is called technology The overall process of diffusion of techonological process in the new inventions and innovations is called technological change
Technology is an evolution with time The improvement in technology which bring changes in our life styles
Example: Computers, Mobile phones Examples: Online shopping using mobile phones and desktops
It is an application of science It is application of science with human life styles
It is an invention process It is adapting to the inventions taking place

Advantages of Technological change:

The main advantages are there will be an increase in efficiency in every field, growth in economy which leads to change for a better life style, Adopting to new technology and new life styles

Ex: Online shopping and internet usage

Disadvantages:

Due to this adoptation there will be unemployment and more frauds taking place. Increase in cyber crimes and having more information about everything which is also not good for society.

Ex: Terrorists are using technology


Related Solutions

Please explain and answer all questions in microsoft word 1. Using real world examples, discuss the...
Please explain and answer all questions in microsoft word 1. Using real world examples, discuss the difference between the short run shut down point and the long run going out of business point. 2. .Using real world examples, discuss when firms are likely to enter a market and when firms are likely to exit a market.
Please explain all in microsoft word Using real world examples, discuss the notion that for a...
Please explain all in microsoft word Using real world examples, discuss the notion that for a perfectly competitive firm to maximize profit they must operate at the point where MR=MC which is the same as P=MC.
Please answer all in microsoft word Using real world examples, compare and contrast the the characteristics...
Please answer all in microsoft word Using real world examples, compare and contrast the the characteristics of a perfect competitive firm, when a perfect competition firm produces v. shut down, stays in business v. go out of business, and the relationship between economic profit, normal profit, and accounting profit in these decisions. Use comprehensive definitions, real world examples, and comprehensive applications in your answer.
Please answer all in microsoft word Using real world examples, compare and contrast the 3 main...
Please answer all in microsoft word Using real world examples, compare and contrast the 3 main firm types including advantages, disadvantages, and when the particular firm type is recommended, as well as what is the oldest corporation and explain why is it significant to businesses today. Use comprehensive definitions, real world examples, and comprehensive applications in your answer.
please answer all in microsoft word a.Define, discuss, and provide real world examples of how the...
please answer all in microsoft word a.Define, discuss, and provide real world examples of how the 3 main categories of unemployment affect individual households, individual firms, and the entire economy. b.Explain and discuss the significance of the natural rate of unemployment, also known as the full-employment unemployment rate.
Please answer all in microsoft word doc. Define, discuss, and provide real world examples of how...
Please answer all in microsoft word doc. Define, discuss, and provide real world examples of how the 3 main categories of unemployment affect individual households, individual firms, and the entire economy.
please answer all in microsoft word 1.      PPF Model: Explain and apply the relationship between the...
please answer all in microsoft word 1.      PPF Model: Explain and apply the relationship between the production possibility frontier (PPF), scarcity, opportunity cost, choice, efficiency, inefficiency, growth, loss.
Please answer all of the following parts: Please explain the difference between the nominal and real...
Please answer all of the following parts: Please explain the difference between the nominal and real interest rate in the short-run and the long-run. How and why does the quantity theory help us understand the relationship between the money supply, interest rates and inflation? How and why are nominal interest rates so low in the U.S. today? Please all the tools at your disposal to demonstrate your understanding of the market today.
Please answer all in microsdt word a.Define, discuss, and provide a real world example of the...
Please answer all in microsdt word a.Define, discuss, and provide a real world example of the difference between inflation and deflation. b.Define, discuss, and provide a real world example of the difference between the 3 types of inflation: creeping inflation, galloping inflation, and hyperinflation. c.Which is the greater problem: anticipated inflation or unanticipated inflation? Why? d.Explain the 2 causes of inflation: Demand-Pull Inflation and Supply-Push Inflation.
Please answer all in microsoft word Explain the US Central Banking System and its functions. Explain...
Please answer all in microsoft word Explain the US Central Banking System and its functions. Explain the organization, how members of the board and chair are chosen, and their terms.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT