Efficiency and innovation is important to a society because they are key components to bringing income into their economy and creating jobs for those within it. Being efficient means to use your resources wisely and get through work at a good pace. Being efficient doens't mean you need to rush through anything, just use your time and resources as best as you can. Innovation is important because it creates new ideas for consumers and producers to make and sell within an economy. When a new invention comes about, that gives opportunities for growth and expansion of a company or a new or old.
<span>Robotics could make this repetitive task quicker and less susceptible to error.
</span><span>Robots have “human” capabilities and traits such as sensing, dexterity, memory and trainability which mean that they can do they are suitable for repetitive manufacturing tasks.</span>
Answer:The answer is Deep customer knowledge
Explanation:
Deep customer knowledge is a kind of research done by a business in order to know the need of their customers and how the business can help in meeting such need.it is a process of engaging with their customers with a view to know their need so as to ensure that the overall objectives of the business is accomplished. Deep customer knowledge enables a business to build a strong relationships with their customers. The use of deep customer knowledge includes the use of customers service officer to explain to their customers the use of their products or services in order to ensure that they are able to satisfy their customers and improve the sales of the business.
When the demand for the economy exist expanding, the demand for loanable funds will increase.
<h3>What is Demand?</h3>
The quantity of a good that consumers are willing and able to buy at various prices at a specific time period and location is known as the demand. The demand curve is another name for the relationship between price and quantity demand. Demand is just a consumer's desire to buy products and services immediately and to pay the price associated with them. Demand can be defined as the quantity of things that consumers are prepared and willing to purchase at various prices within a specific time frame.
Loanable funds are all the resources that individuals and organizations in a given economy have chosen to set aside and lend to investors rather than use for their own needs. Savings are the source of the loanable funds available. It is predicated on borrowing that loanable funds are in demand. The real interest rate and the amount of loans made depend on how the supply of savings and the demand for loans interact.
Hence, When the demand for the economy exist expanding, the demand for loanable funds will increase.
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