Question

How do you think the improvements in Technology and International trade seen in the video have affected the world economy? Give two examples

Answer 1

Answer:

Technology can save the time it takes to produce a good or delivery service contributing to the all our profits of a business Technology can contribute to refer to the efficiency of a business output rate following for large quantities of products to be more door of services to be rendered.Technology trade increases the volume of trade in goods Technology trade increases product variety at the market equilibrium Technology trade increases National income in the each country and increases total gains from trade addition digital Technologies will affect the composition of trade by increasing the services form per and fostering trade in certain good s such as time-sensitive products changing patterns of comparative advantage and affecting the complexity and length of Global value chains technology is the battle force in the modern form of business Global aviation Technology has helped us in overcoming the major hurdles of globalisation and international trade such as trade barrier lack of common standard transportation cost and delay in information exchange thereby changing the Marketplace.

it is very important both for developed countries and developing countries as necrology progress will enabled countries to be more competitive in the Global market players progress in technology helps countries to develop the economy and strength was their trading positions in the competitive global market.

trade Technologies provide internet inter based software solutions and document preparation services that streamlined international trade payment process and documentation for global exporters freet folders and global trade banks.

Technology affects the way individuals communicate learn and think it help society and determine how people interact with other each other on a daily basis Technology place in important role in the society today it has a positive and negative effects on the world and it impacts daily life so it is so important Technologies has changed the way people live their everyday lives it presents almost everything you do from how you communicate to how you perform your day-to-day tasks thanks to technology is now easier to go to work or per for households