Question

what are the impacts of technology on industrial man on the producer and consumer

Answer 1

Productivity measures the way in which an economic system or business can leverageavailable functional inputs to generate meaningful outputs. This concept drives economies towards higher degrees of efficiency in production and thus higher economic growth and standards of living. As a result, improving productivity is a critical objective for societies to increase their relative wealth. Technological advances play a crucial role in improving productivity, and thus the standard of living in a system.