How do improvements in technology and human capital influence productivity, economic growth, and standard of living within an economy? 3 full sentences
Improvements in technology and human capital tend to lead to increased productivity within an economy because they allow for more efficient processes and the generation of higher quality goods and services. This increase in productivity then typically leads to overall economic growth as businesses become more competitive and innovative. Ultimately, these advancements in technology and human capital can improve the standard of living within an economy by providing individuals with better job opportunities, higher incomes, and access to improved goods and services.
