Answer to Question #270990 in Microeconomics for Mehwash Sk

Question

Technology advances in the Information and Communications Technology (ICT) sector over the past two decades have reduced the cost of computer chips. How do you think this has affected the market for computer hardware, computer software and typewriters?Support your answers for each market mentioned above with appropriate diagrams on the market forces of supply and demand.

Answer 1

Disruptive technology is a type of invention that drastically changes how customers, industries, or businesses work. Because it has features that are clearly superior, disruptive technology sweeps away the systems or behaviors it replaces.