Which statements describe effects of changes in information technology? check all that apply. 1) economists are better able to predict how resources should be allocated. 2) governments can make better economic policy decisions. 3) it has become more difficult for businesses to identify when shortages will occur. 4) the amount of time to share data between locations has steadily increased. 5) employment in information technology sectors has grown.

The flourishment and spread of TICs and their continous development through research, has re-shaped the world economies and the ways of conducting businesses. From the proposed statements, the following apply to the current scenario:

Options 3) and 4) are incorrect. IT actually enables the opposite of what they state. Businesses have better tools for forecasting as it is explained above, therefore they will identify shortages more easily than before. According to 4, the time needed to share data has decreased due to IT improvements.

Explanation:

Economist are better able to predict how resources are allocated