Technological advancements in the 1990s, particularly Moore's Law and VLSI technology, reduced the cost of computer chips. This led to a large fall in computer chip prices between 1990 and 2002. The key factors were the rapidly evolving chip production technology, which increased supply, and the demand curve for chips, which shifted upwards. The declining chip prices significantly impacted the computer and software industries by reducing costs, increasing demand, purchasing power, market size, and the number of buyers. Countries also benefited from increased exports and foreign exchange earnings.