Technology is the application of scientific knowledge like machinery and other types of equipment or it can be the knowledge of techniques. Two forms that technological advancement can take are Method and Devices.
The two forms that the technological advancement can take is either digital or analogue. The digital technological advancement has made the world a small global village.
Method and devices
Technological advancement can be seen as progress within society. For example, people living better is progress. Another way you can see technological advancement is through the use of advanced devices.
Two of the inventions and technological advances that changes lives as part of the market revolution are cell phones and the internet.
Technology spillover is the process by which other sectors receive benefits from the increase in technology. Because of the increase use of the internet, studies have shown that ther have been higher growth rates in the areas of retail and financial institutions. This can be determined using growth accounting
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In 1920, one of the most important technological advancements was in the form of a robot invention. Another advancement regarded the invention of the Lie Detector by John Larson.
Rational choice can take the form of maximizing utility, where individuals make decisions based on maximizing their own personal satisfaction. It can also take the form of optimizing resources, where individuals make decisions based on achieving the best outcome with limited resources.
The two proceeded hand in hand, one fueling the other.
Major benefits and two major risks of scientific technological advancements
WHAT TWO TECHNOLOGICAL ADVANTAGES EUROPEANS HAD OVER THE AFRICANSWhere guns and steam engines
Internet.
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