1.11: Technology and Economics

Which best describes what technology does?

• Improves results.

• Eliminates jobs.

• Reorganizes information.

• Creates smaller, faster devices.

Which improvement did the shipping container bring?

• improved communication

• increased speed of shipping

• clearer communication

• greater productivity

Which is not a factor that leads to technological advancement?

• inflation rate

• desire for productivity

• advanced devices

• new methods

What is the most direct benefit of greater productivity?

• Increased demand for goods.

• New methods of assembly.

• The price of goods is reduced.

• Decreased demand for goods.

Which is a direct benefit of the use of assembly lines in production?

• Wasted motion is eliminated.

• Cheap goods are rarer.

• Prices and demand both fall.

• Job security is enhanced.

Which method helps speed up the distribution of goods?

• Bar Coding

• Touch Typing

• Standardization

• Computer Inventories

Because of the information it contains, the Internet is like each of the following except?

• a library

• a factory

• a department store

• a shopping mall

Which is a benefit brought by the Internet?

• Easier communication

• More jobs in retail stores

• Reductions in industrial waste

• Greater privacy for personal information

Which is a benefit brought to consumers by online sales?

• Online businesses need fewer employees

• Prices are always lower

• Consumers can always get products faster

• Online shopping is a convenient way to compare prices

Which explains why the Internet can help people make better economic decisions?

• Security measures guard people's private information.

• Purchasing goods and services online is more convenient.

• Faster communication increases the amount of economic activity.

• Information is crucial for making good decisions.