The technology affected the economy in the following ways:
(E). Consumers can buy goods and services on the Internet.
(F). Competition between companies has led to new products.
What are the benefits of technology in economics?
The following are the benefits of technology in economics:
- The advancement of the technology leads to the economic growth, means increasing the GDP.
- Technology leads to improvement in mobility of factors and increases the efficiency.
- Many employees are able to do their jobs from home.
- Automation has had more of an impact in manufacturing.
- Consumers can buy goods and services on the Internet.
- Competition between companies has led to new products.
Therefore, options E and F are correct.
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