Explain How Wholesalers Have Been Able to Use Technology to Cut

question 145

Essay

Explain how wholesalers have been able to use technology to cut costs.

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Definitions:

Infrastructure

The fundamental facilities and systems serving a country, city, or area, including transportation and communication systems, power plants, and schools.

Unemployment Rate

The proportion of the working sector that lacks employment but is in the hunt for jobs.

Technology

The application of scientific knowledge for practical purposes, especially in industry and the development of innovations.

Production Possibility Frontier

A curve demonstrating the maximum potential output levels of two goods or services an economy can achieve when all resources are efficiently utilized.