Lesson 80 of 84 · Technology Advances
⭐ 30 XPtechnology-advances: Lesson 80
The digital revolution has also altered the landscape of global economics by fostering a knowledge-based economy.
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The digital revolution has also altered the landscape of global economics by fostering a knowledge-based economy. In this new economic paradigm, intellectual property, data, and innovation have become key drivers of growth. Companies that harness technology to enhance productivity and create new products often outperform their competitors. Furthermore, the growth of the gig economy, characterized by short-term contracts and freelance work, exemplifies how technology has reshaped traditional employment structures, offering flexibility but also presenting challenges in job security and benefits.
Key Facts
The knowledge-based economy is driven by information and innovation rather than physical goods.
In 2021, gig economy workers in the U.S. numbered approximately 59 million.
Companies that invest in technology tend to see higher productivity rates.
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Question 1
1 of 2What is a characteristic of the knowledge-based economy?
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