Question

How does technology contribute to achieving success in answering the second economic question ?

Answer 1

Answer:

These are the three basic economic conditions:

1. What to produce ?

2. How to produce ?    - --------> This is the one we need to pay attention to.

3; For whom to produce ?

This second economic condition revolves around various methods that we can use to transform the materials into goods and products that can be sold in the market.

Technology achieved success in answering this question because technology created a way for people to produce the product at a significantly lower cost in a significantly larger quantity.

Example of this would be the creation of the printing press.

Before this technology was created, books are exclusively belong to the people in upper class society (such as nobles and high priests) since we don't have the methods to produce them efficiently.

But because of the printing press technology, Books become a products that can be obtained by all individuals with relatively cheap price. Which accelerates the development in the next technology.