How have technical and economic development led to more consumption of resources? im not able to understand the answer in the given notes so, is there a more simpler way to explain this?
Technological and economic development leads to more consumption of resources because :
- An improvement in technology leads to an increased production thereby making use of more resources.
- Technological development also leads to reduction in the cost of production therefore the product is sold at a cheaper cost.
- This cheaper cost induces the buyer to buy more amount of this product which further increases the production and the use of resources.
- Economic development provides a conducive environment ofr the technology to flourish.