The Role of Technology in Changing Demand and Supply
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
The Role of Technology in Changing Demand and Supply
Technology has played a significant role in changing demand and supply in various industries. From increasing efficiency in production to creating new market opportunities, technology has revolutionized the way goods and services are produced, distributed, and consumed.
One of the most notable impacts of technology on demand and supply has been its ability to increase productivity. Advancements in technology have made it possible for firms to automate production processes, which has significantly reduced the time and cost required to produce goods and services. This increased productivity has led to a decrease in the price of goods and services, making them more affordable for consumers. Additionally, firms have been able to produce more goods and services, resulting in increased supply and a reduction in shortages.
Another way technology has impacted demand and supply is through e-commerce platforms. E-commerce platforms have created new market opportunities for firms, allowing them to reach a global audience and increase their customer base. E-commerce has also changed the way consumers shop, making it easier for them to access products and services from anywhere in the world. This has resulted in an increase in demand for products and services, which has encouraged firms to increase their supply to meet this demand.
Social media platforms have also played a role in changing demand and supply. Social media has created new avenues for firms to market their products and services, allowing them to reach a wider audience. Social media platforms also provide firms with valuable insights into consumer behavior, allowing them to tailor their products and services to meet the needs and preferences of their target audience. This has resulted in an increase in demand for products and services that are more personalized and cater to specific consumer preferences.
Technology has also enabled firms to offer new and innovative products and services that were not possible before. For example, advancements in biotechnology have allowed for the production of new and improved medicines, while developments in artificial intelligence have enabled the creation of new and innovative software applications. These new products and services have created new market opportunities, resulting in an increase in demand and supply.
However, technology has also created challenges for firms. One challenge is the need to constantly adapt to new technological advancements to remain competitive. Firms that fail to keep up with the latest technological trends risk losing market share to competitors who are able to offer more innovative products and services. Another challenge is the impact of technology on the workforce. Automation has led to a reduction in the need for manual labor, which has resulted in job losses in certain industries.
In conclusion, technology has played a significant role in changing demand and supply in various industries. Its impact has been felt across the board, from increasing productivity to creating new market opportunities. However, it has also created challenges for firms, such as the need to constantly adapt to new technological advancements and the impact of automation on the workforce. Overall, technology will continue to shape the way goods and services are produced, distributed, and consumed, and firms that are able to leverage technology to their advantage will be better positioned to succeed in the marketplace.
The Role of Technology in Changing Demand and Supply
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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