Technology And Economic Growth During The 1970's

Technologies make a significant difference on economic growth. Productivity increases and overall everything increases. The immediate growth in production and productivity is connected to direct job creation. An example of this is the use of job creation is seen during the 1970’s when the rate of unemployment was extremely high. It takes disadvantaged workers or simply unemployed workers and places them in major, more technologically advanced companies. This lowers the rate of unemployment and also raises the face and network of the companies they are working for.
Also, people have been looking more into the way services actually work and issues that they find. Doing this has helped create solutions for the issues found and improves the efficiency of the

Land is all types of natural resources used to create goods and services. Some resources of land include animals, water, copper, gold, and forests. For example, wine corks and henna dye are produced using plants and other chemicals.
Labor is worked by people who are employed by a company or person. The terms of employment and hiring depends on their past and their achievements such as education, job experience, and the need for the job they are applying for. An example of this is one man is applying for a job has a hostess at a restaurant. The employer looks over the mans’ application and comparing it to another person who is applying. Since the man had more experience, they hired him as a hostess. This includes him working by keeping the seating system organized at the restaurant and cleaning.
Capital is buildings and machines or tools that people used to make goods and services. An example of this is what farmers use. This usually only pertains to farmers who grow produce on bulk levels. With the heavy amount of land they have, the use of heavy and intelligent machinery is necessary to efficiently create the produce for it to be