Factors of Production
Technology as an enabler
See how technology helps us produce goods and services.
Technology means the application of scientific knowledge (using science for a practical purpose). A camera, for example, turns light into electrical signals to make a digital image.
Every production activity uses some form of technology, and the chapter notes that some technologies from ancient times are still in use today.
Modern technology makes many things easier: payments at the click of a button through UPI, advance weather updates for farmers, GPS finding the shortest routes for moving goods, drones spraying fertilisers, robots helping in surgery.
Old technology is often replaced by something better. Instead of sending letters by post, we use email: faster and cheaper.
But the chapter adds a warning worth remembering: technological progress does not always mean replacing old technologies. Pulleys and wheelbarrows are still in use.
They remain because they still do their job well. 'Newer' and 'better for this job' are not the same thing.
Technology also changes who can learn what. SWAYAM (Study Webs of Active Learning for Young Aspiring Minds) offers free online courses from Grade 9 onwards through MOOCs (massive open online courses), in subjects like robotics, aquaculture and textile printing, at the learner's own pace.
And the National Career Service portal helps people find jobs in all kinds of work, from plumbing to accounting. The chapter's conclusion: technology has removed geographical barriers to knowledge, skill-building and work, which is exactly how it builds human capital.
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