Q How have changes in technology contributed towards the glo

Q: How have changes in technology contributed towards the globalization of markets and of production? Would the globalization of products and markets have been possible without these technological changes?

Solution

Technology contributes towards improving productivity of labor and capital. The increase in productivity reduces the cost which would help to increase exports or quantity demanded from other countries.

No. People across the world would buy or demand more goods when it is at lesser price. Without technological contribution there would have no improvements in communication, transportation, quality etc. which would have not increased the demand for goods.