Give an example of how the usage of automation boosts employment numbers. Why is this so?
Give an example of how the usage of automation boosts employment numbers. Why is this so?
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
Related questions
Question
Give an example of how the usage of automation boosts employment numbers. Why is this so?
Expert Solution

Step 1
Automation has become a trendy topic in recent years. It refers to the use of technology to perform tasks that were previously performed by human beings. The progress made in the field of automation has led to a significant reduction in labor costs, which has led to an increase in wages and an improvement in the standard of living for many people. However, not everyone is happy about how automation is changing their lives. Many advocates believe that new technologies steal jobs from regular workers and threaten the jobs of those who are currently living below the poverty line.
Step by step
Solved in 2 steps

Recommended textbooks for you

Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education

Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning

Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education

Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning

Management Information Systems: Managing The Digi…
Management
ISBN:
9780135191798
Author:
Kenneth C. Laudon, Jane P. Laudon
Publisher:
PEARSON

Business Essentials (12th Edition) (What's New in…
Management
ISBN:
9780134728391
Author:
Ronald J. Ebert, Ricky W. Griffin
Publisher:
PEARSON

Fundamentals of Management (10th Edition)
Management
ISBN:
9780134237473
Author:
Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:
PEARSON