4.2. Technology and production of goods and services
- Syllabus
- 0264–2027–2028
- Topic
- 4.2
- Level
- —
Learning objectives
Evaluate technology in goods and services
| Technology | Production change |
|---|---|
| mechanisation | machines assist human work |
| automation | equipment or software controls processes with limited direct human action |
| Computer-Aided Manufacture (CAM) | digital instructions guide production machinery accurately and repeatedly |
| 3D printing | a digital design is built layer by layer, supporting prototypes and customised small runs |
| contactless payment | service transactions are completed faster with less cash handling and shorter queues |
For businesses, technology can raise speed, capacity, consistency and productivity, lower unit labour cost, improve data and enable new products or services. It may require high capital and training, become obsolete, fail or face cyber risk, and be uneconomic at low volume.
Employees may gain safer work, new skilled roles, higher productivity and flexible service tools. Others may face redundancy, deskilling, monitoring, retraining or work disruption. The result depends on whether technology replaces tasks or complements workers and whether the business retrains them.
Contactless payment improves service productivity by processing more transactions in a given time; it does not produce a physical good. New technology is not automatically efficient unless its benefits exceed full purchase, integration, maintenance and training costs.