Identify specific technologies that have resulted in major changes in the following industries: agriculture, transportation, entertainment.

Technology plays a very important role in economics. New technology can affect the availability of products and services. Technology may allow a greater number of products to be produced faster and at a lower cost.

It may also result in superior products that make older products obsolete.

Technology can also change the demand for products and services. Individuals with technology skills can work for higher salaries and wages, giving them more money to spend. Technology such as the Internet can make people aware of products and services that weren’t available in the past and can make it easier and often cheaper to purchase them.