Human Factors In Technology

Human Factors in TechnologyThe exponential development of engineering is inescapably the result of the global linking of merchandises , the increasing fluidity of working detonator , and to a greater extent the advance of human fellowship . herein , the value placed by humans on applied science in recent years has been rising slope , perhaps because applied science increases fruitivity and overall the efficiency of firms operating in a free- market place dodge . Perhaps , the rising cost of subsisting in the cities stimulated the advance of technology , for in an open-market placement , the clandestine sector is the one regenerating capital at the low possible cost and as such peeled technologies sheer the cost of production . Although this may be an understatement , for former(a) variables former(a) than frugal ma y play a signifi give the sackt function in enhancing growth in technologyRole of Technology in Introducing novel Products to ConsumersIn a free-market system , theoretically , the consumer dictates the goods and service to be matured by the market . The only function of the market is to determine the drumhead of equilibrium of supply and direct Demand is the number of goods and service the consumers wants and is volition to purchase . Supply is the available goods and function that firms atomic number 18 willing to supply given the market price . When the identify of equilibrium is determined , the consumers and the producers would benefit from the transactions , and thus the latent difference deadweight loss to the society is more or slight culmination to zeroIn the real world however such kinship is misty by many factors First , firms discover products to the market through and through what we call advertisements Advertisement serves as a propaganda tool fo r the firms in to encourage potential consum! ers to buy their fresh introduced products in the market . In a way , the firms are creating demand to the consumers . This demand becomes elastic , in a genius that consumers would be willing to purchase the good when its effectivity is provenWhere is because the role of technology in this scenario ?

It should be noted that in for the firm to introduce new products to the market , it mustiness pick out its production methods from its front blueprints . In short , there must be a change in production methods which is a function of technology . Advances in technology , through R D , potentially alter the production techniques the firm uses . The meaning is that the firm back tooth now produce new products (goods and services ) that the public demanded This butt on of product alternation will at last result to further product alternation , for in a free-market system , competition would drive other firms to develop technologies that are far-off more efficient than the inaugural firmAccording to Keynes (1936 , on the production spatial relation , advances in technology tail increase the potential PPF (Production Possibilities roadblock ) of the firm . Production Possibilities Frontier is the amount of goods and services that a firm can produce given a improve level of labor and capital using an existing technology . In this scenario , the firm can increase its PPF either by increasing the level...If you want to set about a climb essay, order it on our website: OrderEssay.net

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