We live in a time when we are more technology advanced than we ever were. However, this is only the start of what is to come. It is clear everyday, that new innovations are always being thought up and a lot of research and development is being made to pursue these technological dreams. New technology helps us in our everyday lives and it almost seems that it is a necessity for the average person or average business in an economy to survive. Whether it being a new smart phone that connects businesses with suppliers all around the world or new machinery that allows businesses to produce more output in a more efficient and timely manner. The matter of the fact is that technology is all around us and has helped make people and businesses more efficient, which has a direct relationship to the growth of a healthy economy. For instance, as technology evolves more and more research is being done to create these new technological products. This research and development costs money and investment, which directly contributes to the growth in an economy's GDP. As well, for new technologies to be created it needs employees who are skilled enough to make these technologies, which helps reduce the unemployment rate in an economy. Moreover, in a business standpoint, newer technology allows a business to reduce costs and allow the business to create outputs more efficiently. For example, back in the early 1900's when Henry Ford created the assembly line, a new technology at the time. This allowed car manufacturers to save costs because the assembly line allowed car manufacturers to build cars more easily and at a faster rate. Furthermore, because of the assembly line in place, car manufacturers did not need as many employees in place to help with the installation of car parts. This greatly reduced their costs and helped increase outputs. And the increase in outputs allowed for more cars to be produced and purchased, which in turn led to greater revenue