New orders are coming in quickly for SmartTech, and management is confident that new contracts will take them through the next couple of years. The company has started investing again, but not in people. The number of employees is the same as when the company and its competitors faced the Great Recession. Most likely due to ________, the company is producing more product and services with less people.
A) the lack of skilled labor
B) new competition
C) social changes
D) technological advancement

Question

New orders are coming in quickly for SmartTech, and management is confident that new contracts will take them through the next couple of years. The company has started investing again, but not in people. The number of employees is the same as when the company and its competitors faced the Great Recession. Most likely due to ________, the company is producing more product and services with less people. 
A) the lack of skilled labor
B) new competition
C) social changes
D) technological advancement

Quizplus · Accepted Answer

Due to the efficiency of new technology, businesses can produce the same or more, with less labor. As we emerged from the Great Recession, unemployment remained high because firms invested in technology that permitted them to produce at pre-recession levels with fewer employees.

New Orders Are Coming in Quickly for SmartTech, and Management