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Which of the following statements is true?

A. Technology influences economic growth by encouraging the birth of one-class society
B. Technology influences economic growth by causing unexpected, negative externalities
C. Technology influences economic growth by using machines to make production more efficient
D. Technology influences economic growth by increasing prices to bring in more revenue

User Uma
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Final answer:

Technology influences economic growth by using machines to make production more efficient and by promoting innovation. Hence, C) is correct.

Step-by-step explanation:

Technology influences economic growth by using machines to make production more efficient. Advancements in technology allow for the automation of tasks, which increases productivity and reduces costs. For example, the use of machinery in manufacturing processes can lead to faster production and higher output levels.

Moreover, technology can also lead to innovation and the development of new products and services, which can create new markets and boost economic growth. The introduction of smartphones and related technologies, for instance, has transformed industries such as communication, entertainment, and retail.

In summary, technology contributes to economic growth by improving efficiency, promoting innovation, and creating new opportunities.

User Mcmlxxxvi
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