16.docx - Introduction Technology covers a wide scope of...

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IntroductionTechnology covers a wide scope of tools which ease economic resources as an active means ofproducing a wide range of goods and services both innovatively and efficiently. Technologicaladvancement is therefore imperative to economic growth and development. The more thetechnological progress, the faster the economic growth will occur at a both local andinternational level. Technology saves the time that it takes to deliver a service or produce aproduct and this therefore increases the profitability of the business enterprise. In light of that,the advancement in technology increases the efficiency with regards to the output of theorganization. This therefore enables the business to increase the quantity of the productsproduced and moved as well as the services which the business rendered. In addition to that,technology has led to an increase in specialization which has led to a more strategic division of

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Term
Winter
Professor
N/A
Tags
Economics, INTRODUCTIONTechnology

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