What are some kinds of changes brought about by technology and the economy?

The changes brought by technology and economy are listed below –

a) Technology helps us to adapt, control, and resist the various environmental factors that may affect us.

b) When technology is linked with the market institution it can bring social changes at fast pace like industrial revolution.

Few examples of such changes are given below

• Globalisation is beneficial for the economy and multinational corporations but it has a negative impact on indigenous industries.

• Development of textile industry in Britain affected the Handloom industry of India negatively.

• The invention of steam engine and the development of various modes of transport hasbrought the world closer.