What is the effect of technological innovation on the production of goods in the late 1800s?

Technological innovation share the development and creation of new technologies, devices, equipment, software etc for helping and making task easier and faster .These innovation involves science which is implemented in various fields like education, industrial, production,commercial ,marketing etc.

According to the question,impact of technology and development on goods production in late 1800 were increasing economics power and industrial working along with some drawbacks. New design of tools , more efficient production equipment and process, advancement in scale of good production, ease in operations and service etc were seen.

this is an outline for the decisions that frankie is going to make

opportunity cost

willingness to buy

price or quality

of course, there could be many economic strategies that should be considered important while making decision. opportunity cost is the foremost significant factor while considering any economic option. when you buy something, you should know how much you are forgoing for this product. indeed, you could buy something different with this measure if you changed your mind. willingness to buy shows how much surplus you are earning while making a decision. it is important because it shows you buy what you want or you buy because you have only limited amount of money. the price or quality can be considered as a general economic option that we are applying while buying something. when you buy something, price or quality could be one of the options. indeed, they define the characteristics of the product.    

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