Technology's Impact on Economic Dynamics Quiz

Technology's greatest influence is observed in the services sector in the contemporary era.

Consumer demand serves as the primary driver of technological innovation in a market economy.

Technology boosts economic growth by enhancing productivity levels.

AI stands as a pivotal force in propelling the Fourth Industrial Revolution.

Job displacement emerges as a potential drawback in economic dynamics due to technology.

The 'digital divide' signifies a gap in access to technology and digital resources, contributing to economic inequality.

Technology elevates consumer empowerment and choice, significantly shaping consumer behavior in the digital age.

Automation results in job displacement, particularly in specific sectors.

Disruptive innovation refers to sudden and significant advancements that disrupt existing markets.

Blockchain technology enhances economic transactions through improved security and transparency.

Technology fosters innovation and the replacement of outdated industries, embodying the concept of 'creative destruction'.

Technology augments efficiency in 'smart cities' through data-driven solutions.