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Automobile manufacturers install new robotic machinery to build vehicles. As a result, cars can be manufactured much more quickly and efficiently, and the factories can produce many more cars than before. This is an example of growth caused by: A: Natural resources B: Labor C: Technology D: Production possibility curves

Answer :

Final answer:

The growth in automobile manufacturing due to the use of robotic machinery is an example of growth caused by Technology. Technological advancements drive economic growth by allowing efficient production methods and increasing carrying capacity. The correct option is C.

Explanation:

The growth experienced by the automobile manufacturing industry due to the installation of new robotic machinery represents an example of growth caused by Technology.

Technology is indeed a crucial contributor to economic growth and productivity as it enables more efficient production methods to be adopted at a very low marginal cost. The use of new, sophisticated machines in manufacturing can substantially increase the carrying capacity, or the maximum amount of cars that can be produced, resulting in increased productivity. This further spurs exponential growth in the industry.

Not only does technology make the production process faster and more efficient, but it makes additional technological advances even easier.

Hence, Option C is correct.

Learn more about Technology here:

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