Question

Technology and mechanisation. Outline the importance/ advantages of it.

Answer 1

A growing body of research indicates that people pay more to have access to urban amenities. For example, houses close to parks are generally more valuable. Parks, schools, small retail, and transit are some of the amenities that make for a rich urban experience. When considering development and redevelopment potential it is important to also consider how investments, but public and private, can change the desirability of an area. A package of urban amenities can increase desirability and competition for real estate in an area. This in turn increases the rent that property owners can achieve. Higher achievable rents can allow developers to consider larger scale, higher quality real estate projects. The increased investment activity can result in a "virtuous cycle" of even more desireability and investment.

Answer 2

Advantages of technology and mechanization:

• Technology enhances the method of working by reducing labor and increasing output.

• Mechanization helps in bringing down the efforts required to accomplish a task.

• Technology makes the workplace safer and makes the work less complex.

• Mechanization adds efficiency to the system and makes it more reliable.

• Technology helps in the value addition of the product by making it more durable and promising.

• Mechanization allows undertaking big jobs that would otherwise be impossible to be carried out.