Discuss the two forms of technological change

What will be an ideal response?

Information technology The absolute amount of knowledge in the world has been growing at an increasing rate.
Even if the rate of increase were to diminish, the existing knowledge base would still be so large that the absolute
increase in units of knowledge per unit of time would remain large throughout at least the first half of the next
century. Just as important, the growing number of advanced communications technologies will greatly increase the
availability of all knowledge that is produced. Combined with the rate at which new knowledge is being generated,
technology has also increased the availability of information substantially.
Transportation technology Transportation technology has increased the number of markets to which a business
has access and the speed with which they can be accessed. Moreover, we now know a lot more about markets to
which we've long had access, and not surprisingly, the effects of changes in information and transportation
technology are closely related.