Technological progress is one of the mechanisms by which economies can grow.

Question

Quizplus · Accepted Answer

Technological progress allows for increased efficiency and productivity, leading to increased output and economic growth. This is often seen through the development and implementation of new products, processes, and systems that improve the way goods and services are produced and delivered. Additionally, increased technological advancements can lead to the creation of new industries and job opportunities, further boosting economic growth.

Technological Progress Is One of the Mechanisms by Which Economies