Technological Advancements: Technological advancements encompass innovations and improvements in machinery, tools, or systems that enhance productivity and efficiency within an industry or across multiple sectors.
Globalization: Globalization refers to the increasing interconnectedness and integration of economies worldwide through trade, investment flows, cultural exchange, and communication technologies.
Labor Market: The labor market is the arena where individuals sell their skills or services (labor) to employers who seek to hire workers. It includes factors like wages, employment opportunities, job requirements, and worker mobility.