Question: Question 5 (i) What is technology and why does its growth contribute to improved living standards? [ii] Why do economists claim that technology played a

Question 5 (i) What is technology and why does its growth

Question 5 (i) What is technology and why does its growth contribute to improved living standards? [ii] Why do economists claim that technology played a large role in the economic growth of the past 200 years? [iii] Why does technology include different ways in which to organise a firm? [iv] What is wrong with a growth policy that focuses on capital formation rather than technology? [v] How do property rights affect economic growth

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