Which statements describe effects of changes in information technology? Check all that apply. Economists are better able to predict how resources should be allocated.
Governments can make better economic policy decisions.
It has become more difficult for businesses to identify when shortages will occur.
The amount of time to share data between locations has steadily increased.
Employment in information technology sectors has grown.

Economists are better able to predict how resources should be allocated.

Governments can make better economic policy decisions.

Employment in information technology sectors has grown.

Explanation:

Information technology can be defined as a set of components or computer systems, which is used to collect, store, and process data, as well as dissemination of information, knowledge, and distribution of digital products.

An information technology interacts with its environment by receiving data in its raw forms and information in a usable format. Thus, it comprises of five (5) main components and these are; hardware, software, database, human resources, and telecommunications.

Furthermore, it is an integral part of human life because individuals, organizations, and institutions rely on information technology and systems in order to perform their duties, functions or tasks and to manage their operations effectively. For example, all organizations make use of information technology and systems for supply chain management, process financial accounts, manage their workforce, and as a marketing channels to reach their customers or potential customers.

Generally, information technology has gone a long way to enhance, stimulate or facilitate an increased level of output (production) in a country when it's adopted and properly harnessed.

Hence, the statements which best describe effects of changes in information technology include the following;

I. Economists are better able to predict how resources should be allocated through data forecasting and simulation software applications.

II. Governments can make better economic policy decisions by adopting technological innovations.

III. Employment in information technology sectors has grown over time, owing to the fact that it's a field that cuts across various sectors.

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