Human Factors In Technology

Human Factors in TechnologyThe exponential development of engineering is needs the result of the global linking of merchandises , the increasing fluidity of working outstanding , and to a greater extent the advance of human knowledge . herein , the value placed by humans on applied science in recent years has been insurrection , perhaps because engine room increases fruitivity and overall the efficiency of firms operating in a free- foodstuff establishment . Perhaps , the rising cost of biography in the cities stimulated the advance of technology , for in an open-market transcription , the clandestine sector is the one regenerating capital at the low possible cost and as such impertinent technologies sheer the cost of production . Although this may be an understatement , for former(a) variables former(a) than econo mic may 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 charge of equilibrium of supply and direct Demand is the number of goods and serve the consumers wants and is volition to purchase . Supply is the available goods and go that firms ar willing to supply given the market price . When the learn of equilibrium is determined , the consumers and the producers would benefit from the transactions , and thus the possible 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 for the firms in to encourage potential consumers to buy their ! pertly introduced products in the market . In a way , the firms ar creating demand to the consumers . This demand becomes elastic , in a guts that consumers would be willing to purchase the good when its effectivity is provenWhere is hence 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 f irm uses . The hint is that the firm back tooth now produce new products (goods and services ) that the public demanded This butt on of product alternation will finally result to further product alternation , for in a free-market system , competition would drive other firms to develop technologies that are cold more efficient than the inaugural firmAccording to Keynes (1936 , on the production side of meat , advances in technology tail increase the potential PPF (Production Possibilities prohibition ) of the firm . Production Possibilities Frontier is the amount of goods and services that a firm can produce given a amend 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 blanket(a) essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper