How does technology affect the economy?


Technology can have an effect on the economy in several different ways. Initially it may be a financial drain to institute new technology. It can be expensive to adopt new practices which invariably occur with the adoption of new technologies. On the other hand, technology also allows businesses and individuals to process transactions and information more efficiently. 
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Technology results in higher productivity, and thus higher incomes. Most any significant increase in incomes almost always has a technological contributor. Technological advancement
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