The Role of Technology in the Economy

Categories : Gembing


Technology refers to the application of knowledge. It can also refer to a product that has been created using technology. There are many fields in which technology is used. These include the automotive, aerospace, computer, and health care industries. Technology is widely used and can be found everywhere. In addition, it is used to improve human life.

Technology is used to solve problems and is crucial to the development of new products. Approximately 88 percent of economic growth can be traced to advances in science and technology. Therefore, understanding the role of technology in the economy can help us understand the economy and how to improve it. For instance, the Internet provides real-time information about world events.

Technology and society have a symbiotic, co-dependent, co-influential relationship. This relationship began in the beginning of humankind and has continued throughout our modern age. The development of new technologies has changed the way we live our lives and how we communicate. Technology also has a profound effect on societal issues.

In the twentieth century, technology began to be a common word. It can refer to the application of science or to a broad class of industrial arts. It is now widely used and understood as a means to an end.