Final answer:
The term 'soft' technology is used to describe the application of the Internet, computer programs, and information systems in the production and delivery of goods and services, indicating a shift towards a knowledge-based economy.
Step-by-step explanation:
The technology referred to in the student's question is 'soft' technology. This term captures the essence of information technologies such as the Internet, computer programs, and information systems that streamline the creation and delivery of goods and services. In today's context, soft technology has a profound impact on many industries, transforming production and distribution methods and fostering the growth of a knowledge-based, postindustrial economy.
For instance, the music and film industries have shifted from producing physical goods like CDs and DVDs to providing digital content that can be streamed or downloaded. The information economy is characterized by an increased reliance on intellectual capabilities rather than physical input or natural resources. As such, people with technical skills and knowledge to manipulate these technologies are critical for success in this economy. This underscores the significance of digital technology as a driving force behind information societies.