(Solved) : Leading Factor Economic Growth Developed Nations Innovation Leads New Services Products Co Q31575695 . . . .

IT is a leading factor in economic growth in developed nations.Innovation in IT leads to new services and products that contributeto economy. It also gives a competitive edge to these nations.Also, IT has invariably made businesses more efficient; and moreefficient business means greater cost effectiveness which meansbolstered economies. This reflects in better services and higherstandards of living.

Nevertheless, how well do you think this logic holds upuniversally? For example, in nations with high poverty levels, doesIT improve economies enough to provide a route out of that poverty?Does it contribute to higher standards of living? Remember that theeconomy, as measured by the