Economic growth is closely linked to:Question 12AnswerA.Government regulationsB.Technological advancementsC.Weather patternsD.Cultural traditions
Question
Economic growth is closely linked to:
- A. Government regulations
- B. Technological advancements
- C. Weather patterns
- D. Cultural traditions
Solution
Economic growth is closely linked to technological advancements. Here's why:
-
Innovation: Technological advancements often lead to new products and services, which can create new industries or transform existing ones. This can lead to an increase in economic output.
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Efficiency: Technology can also make businesses more efficient, reducing costs and increasing productivity. This can lead to higher profits, which can be reinvested in the business, leading to further economic growth.
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Globalization: Technological advancements can make it easier for businesses to operate internationally, opening up new markets and increasing potential for growth.
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Quality of Life: Technological advancements can also lead to improvements in quality of life, such as better healthcare and education, which can lead to a more productive workforce.
So, the answer is B. Technological advancements.
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