Benefits of Technology

Economy Benefit from Technology An important aspect of having a successful economy is the ability for a country to trade its goods and service in an efficient way. The development of technology have greatly help to change the way countries trade their goods. Technology has currently reduce the time it takes to deliver the goods all over the world. From stem engines to diesel power engines and now with the aid of cargo ship we can reach the any place within few hours or minutes. For an example with aid of a cargo plane we can deliver food item to the other side of the globe within few hours and the freshness of the food is still preserve. Besides that, countries also has been using technology device such as Fax and the internet to converse with each other thus creating a more efficient and easy way for good to be traded. A recent data from the U.S. Census Bureau, exports brought nearly $ 165 billion for the U.S economy in February 2010 with the aid of modern technology. In summary technology has greatly influence the international trade and make it easier.

Since the start of the Industrial Revolution in 18th century by the Europeans, the introduction of advance technology has increase the efficiency, the level, amount and decrease the cost of the production. With the beginning of the printing press many scientist and inventors have created many ways to increase the productivity of a product. Scientist has created robots and machines to do jobs that are hard for human and also to reduce the time. For an instance, the machines that is being use in car factory to ensemble and paint the car. Besides that, new kind of technology can reduce the costs by using a lower price parts. Therefore as the manufactures are benefitting for the technology and by that it will boost the economy to go higher. (James Manyika, Michael Chui, Jacques Bughin, Richard Dobbs, Peter Bisson ,Alex Marrs, 2013) In many countries, more than 95% of business has