Question

In 2015 the world saw many changes in demand and advances in technology. People were
using new ways to transfer money and there was an increase in the number of stock
exchanges. Some governments also raised the school-leaving age, that is the minimum age
at which children are legally allowed to leave school.


Analyse how advances in technology can affect demand and supply.

Answer 1

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Answer 2

Answer:

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Explanation:

Technological advances that improve production efficiency will shift a supply curve to the right. The cost of production goes down, and consumers will demand more of the product at lower prices.