This is a class question that needs to be answer with at least 150 words. I would like it explain in your own words, but if not please cite-in-text with reference. No Plagiarism

Most of the tech gadgets we buy today, like computers, smart phones, tablets etc., make us better-off. Why would we buy them otherwise? Most of these tech stuff involve a trade-off between cost and convenience. They save time and improve our lives. It is also worthwhile to note that they cost lot more to buy than what they replaced. From purely economic point of view only very few such tech toys make us better off and reduce our total dollar expenditure. In fact this was true for such gadgets we used in 1940’s and 1950’s , like automatic washers and dryers and may be TV’s. Thanks.

Class–Any thoughts or comments?