Respuesta :
Production of Goods depends upon the technology used in the factory or in the machines of production. In order to improve the production of goods, the machines should be of advances technology.
For example, in order to print pages speedily, you need to buy an advances technology printer.
Hence one way that technology can improve the production of goods is using the advances and innovative technology which shall increase the efficiency and improve the production.
The technology can improve the production of goods by using advanced technology. There can be other methods of improving the production of goods by employing more number of workers and increase the capacity of the machines.
Further Explanation:
Production of goods:
Goods can be produced by employing the workers and using advanced technology. The quantity of goods depends on the demand of the product. The number of goods is also produced by the advanced technology. If efficient technology is used, more number of goods produced. If traditional technology is used, less number of goods produced.
As the technology has been changed over the time period, the company has to change their production technique of producing the goods which are more efficient and less costly for producing the goods.
Technology is the basic factor on the demand of the product and the cost of the product. If the company is using the advanced technology, the company charged the high cost till it does not get back the machine cost. After that the company will charged the low cost. The demand of the product is determined on the basis of the technology. The company improves the flexibility of the production of the goods.
Learn more:
1. Learn more about demand and supply
https://brainly.com/question/2195487
2. Learn more about variable cost
https://brainly.com/question/9203162
3. Learn more about total cost
https://brainly.com/question/5949032
Answer details:
Grade: Middle School
Subject: Economics
Chapter: Law of demand and technology
Keywords:technology, improve, production of goods, efficient, advanced technology, traditional technology, flexibility, law of demand and technology, basic factor.
