The Global Chip Shortage And How to Fix It

The video discusses the role of semiconductors in modern devices and how the pandemic disrupted chip demand. Automakers reduced chip orders, while demand surged in tech sectors, leading to a supply chain shift. The resulting chip shortage impacts various industries, with significant economic consequences. The U.S. government is investigating reliance on overseas manufacturers. Analysts predict a supply-demand balance may not occur until later in the year.

What is the primary function of semiconductors in electronic devices?

• To store data

• To act as the brain of the device

• To connect to the internet

• To provide power

How did the pandemic initially affect automakers' orders for semiconductors?

• They reduced orders expecting lower demand

• They stopped ordering completely

• They increased orders due to higher demand

• They maintained the same level of orders

Which sectors saw an increase in semiconductor demand during the pandemic?

• Textiles and fashion

• Construction and real estate

• Laptops and smartphones

• Automotive and aviation

What is one major consequence of the semiconductor shortage for automakers?

• Increased production of vehicles

• A rise in vehicle sales

• A loss of $61 billion in sales

• A surplus of semiconductor chips

Which countries are major overseas manufacturers of semiconductors that the US relies on?

• India and Brazil

• Taiwan and South Korea

• Germany and France

• China and Japan