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Technology has obviously improved productivity. Examples are plentiful, such as the assembly line, which improves the speed of production by allowing specialization. Robotics allow more precise and larger scale products to be made, as they never tire and are much stronger than man.
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How does technology affect the economy of the US?
The US is a manufacturer of most of the technology used in the world. The export of these technology adds to the GDP of the USA. The use and discovery of technology has created jobs for its citizens.
How does technology affect factors of production?
technology greatly affect FOP, the main factor is that it reduces the need of the Labor an important FOP. also it contribute alot towards the capital ie made made resources
How did the war affect the American economy after the war?
Technology developed during the war was used for consumer products.
How did war effort affect the American economy after the war?
Technology developed during the war was used for consumer products.
How does technology affect productivity in an economy?
Usually, new technology will increase productivity in the economy. For example, if you replace a human in a factory with a robot that can work twice as quickly without breaks, productivity would increase.
