“Economic Influence on Marketing” claims, “To keep current, your business has to adapt to changes in the industry and must always keep its eye out for innovative, cutting-edge technology and product improvements” (Bradley). With the advancements of technology today, many new products come out on the market and the consumers taste begin to change. For example, with new technology such as laptops coming on the market to ensure that consumers will buy your product you have to have good advertising. The advertising has to relate interest to consumer along with provide valuable information such as cost and quality. Advertisements arouse competition in companies, which provide better quality in goods and services.
Discussion The main argument supporting authoritarianism help economic development is the state can enjoy autonomy in drawing development policy which face less resistance force from the public and more public interests oriented. When countries are developing its economy, huge investment is needed to start-up the economy and state will cut off the current consumption. The party insist for a “better future” will never win in the election. As a result, the country will never have enough resources accumulate for future economic development (Rao, 1984, p.75 as cited in Prezworski A. and Limongi L., 1993, p.54). In this sense, authoritarianism has its own advantage as it can draw and execute policy beneficial to economic development without facing the objection from citizens.
The division of labour is helpful as it saves time and increases a person’s skills and ability as they are repeated over and over which contributes to the efficiency. With the division of labour things are produced faster, more efficient and cheaper. An example of this is where Smith
The overall quality of life had improved due to imperialism. For instance, the colonies were able to provide resources for the progressive nations when they were not capable of doing it on their own. By creating a new way of living for them, they were able to “give these people the benefit of other blessings of civilization which they did not have the means of creating themselves,” (Doc. 5). The range of job opportunities that arose was also a major positive outcome of the Industrial Revolution and New Imperialism.
Renaissance means “rebirth;” it was a time of creativity and changes in economic, political, and cultural in society. One of the most important changes that came with the Renaissance were improving in science, technology, and mathematics. Science and technology helped create better ships and other technology to be able to travel at
With this advancement, goods are able to travel across earth in a matter of days. New transportation technologies have dramatically changed international trade by minimizing opportunity cost when distributing goods which ultimately maximizes profits among businesses all over the world. Most importantly, it allows developing countries benefit from trade, and help contribute at a more cost-efficient
However, the beneficiality of the Transportation Revolution outweighs the negatives, this revolution allowed more jobs to be created which resulted in a better economy and this also allowed for Manifest Destiny to be completed. Therefore, the Transportation
Physically and mentally active individuals could also make a better and more efficient use of technology, machinery or equipment. A healthier labor force could also be expected to be more flexible and adaptable to changes in the
The idea of capitalism was to make and sell products at an affordable price while making as much a profit as possible and increase production. This, in turn, led to more people being able to afford more goods than ever before. However, the system was never perfect. Capitalism did have a negative effect. Some of the negative effects were long hours of work, dangerous working conditions and child labour.