ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It enables people to work fewer hours.
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It ensures that all of the nation’s resources will be used.
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It ensures that all of the nation’s workers are employed.
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It helps to make better use of the nation’s limited resources.
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Detailed explanation-1: -It increases the efficient production of more goods and services in the organization. The new technology is codified knowledge in the form of routines and protocols. Technology helps to get enough knowledge about the use of economic resources to produce goods and services more efficiently.
Detailed explanation-2: -Workers can have access to higher-productivity jobs and countries can achieve higher prosperity through the adoption of more sophisticated technologies by firms.
Detailed explanation-3: -Technology is an important factor that changes substances into resources. People themselves are the most important resource. It is their ideas, knowledge, inventions, and discoveries that lead to the creation of more resources. Each discovery or invention leads to many others.
Detailed explanation-4: -The Rise In Productivity: Technology has helped in developing and producing at a higher rate in the economy. It has been achieved through proper utilization of human resources and using modern techniques in the production sector of the Indian economy.