Question

Role of technology in gross development essay

Answer 1

Technology plays an imperative part in the general improvement of a nation. For example, Israel did not have regular assets to support its economy. There was no oil or minerals. Nothing.

Human technological development is both characteristic and one of a kind to every individual, prenatally to after death as one a player in an entire being. Although billions might be conveyed at a similar clock times, they are never ALL the same in a country state limited zone, in a country of indispensable and deceased perpetual occupants.

You can't have a gross "developer" of anything at all without that Whole Wealth range officially occupied. You need to lay out the Land drawing first before lettering in the Nation name among Nations United by 1941 and later contracts. Those now include particular proprietors and protectors with atomic power who have pronounced a conclusion to non-attendant colonization completely.

In such manner, technological proposals about gross development must be convincing to draw the consideration of technological thinkers who might need to know in advance the NET worth of the particular proposer's assets.

Answer 2

$\huge\fbox\red{Answer}$

Adoption of technology

Technology and developing countries by developed countries may not adopt product. Major markets of advanced industrial countries, high income, ample capital resources, supported by good management and technical skills are the least developed countries, small income, capital shortages, unskilled labor is abundant. Advance technology, so, what can be done for these countries. Developing countries should adopt appropriate technology to provide the needed employment is based. The development stage of the country’s current economic policy framework should be within.

Importance of Technology

Technology is important due to following reason.

Increase in labor productivity

With labor productivity growth in the use of technology. If we help the agricultural sector, for example, a farmer with tractor can work more than ten farmers.

More human capital

Human capital means skilled and educated labor force when we increase the use of technology the skills in labor also increase; it leads to human capital formation.

Providing better living standard

We enjoy living facilities per capita income and the quality of life decision. Technology, national income and per capita income growth using, is it leads to better quality of life.

Output increases

As labor productivity increases the production level increase of country. This cause increase in national income of a country.

Rapid increase in supply

According to Keynes rapid increase in supply is possible with the help of technology. If demand of a commodity increase, it is possible to match the demand with the help of technology. It removes the danger of inflation.

Trade

The basis of international trade is “a country exchanges its excess production with the excess production of another country”. So with the use of technology production and international trade also increase.

Advancement in infrastructure

Technology itself is the component of infrastructure. with the use of advancement in technology we can improve .such as use of atomic energy, use of gas in place of petrol, and computer e.t.c

No wastages of resources

Technology helps in removing wastages of resources in production. It is possible to have more output with same inputs in the presence of technology.

Cost minimizing

According to tha Gallbraith “The increasing use of technology in a society as the efficiency increases. growth of national income and expense control in results

Economics of scale

It means that advantages are attached with high production level.in this modern era we know that the use of technology production will increase as a result cost will decrease and profit will increase.

Overcome vicious circle of poverty.

Withy the use of technology income of the country increase. When increase in income saving will increase , demand will increase and as a result investment and capital formation will increase that help to overcome the vicious circle of poverty.

Improvement of Quality

When we use latest technology in the production of new goods then their quality of product will improve. if we take the example of textile industry the quality of machine made cloth is better than the quality of hand made clothes. And their production will be more.

Use ful labor force

Skilled labor can also be used for more production . if labor will be highly skilled than they know how to use the machines effectively. That can also be profitable for the country and industry.

What is Technology and Why is it important

Economists define technology as ideas, or knowledge, that help us produce output from inputs. Having more technology means being able to produce more output with a given amount of inputs.

Technology can be in different shape. It may be an engineering discoveries like invention of airplane, light bulb, basic knowledge like calculus. Services concept like all-in-one shopping of Wall Mart.

Technology is also important because regular inputs are characterized by diminishing returns the more of an input we use, holding others constant, the less output each additional unit is able to produce. However, since the same idea is available to the entire economy, we do not run into diminishing returns with technology.