AnswersVT-GA-EOC-Personal Finance Economics A ULHSTechnology and Economics

Technology and Economics Answers

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A
Economic patterns
B
Economic peaks
C
Economic theories
2
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What are the benefits of instant communication and sales for consumers? Choose three answers.

A
Companies can ship goods to customers in an instant.
B
Businesses can be available for customers 24 hours a day.
C
Customers can purchase goods and services online.
D
Customers can give feedback to producers instantly.
E
Employers can hire workers from all over the world.
3

One consequence of automation is that producers need fewer

A
customers.
B
machines.
C
materials.
D
workers.
4

This graph shows the US unemployment rate from August 2010 to November 2011.This graph could help an economist predict

Question illustration
A
how the government will address unemployment.
B
which industries are most in need of workers.
C
how many people will be out of work in the next year.
D
why producers might hire fewer workers in the future.
5

What is the best definition of technology?

A
Technology is replacing human workers with mechanical or electronic devices.
B
Technology is applying scientific knowledge to find answers and fix problems.
C
Technology is using fewer resources to manufacture goods more efficiently.
D
Technology is hiring workers from all over the world to manufacture goods.
6

The government of country A has determined there is a coal shortage based on mining reports. As a result of these data, the government decreases coal exports to other nations. Access to information helped country A

A
allocate resources.
B
limit consumption.
C
purchase goods.
D
increase sales.
7

How has information technology impacted the economy? Choose three answers.

A
It has allowed economists to better predict how resources should be allocated.
B
It has assisted governments to make better economic policy decisions.
C
It has become more difficult for businesses to identify when shortages will occur.
D
It has steadily increased the amount of time to share data between locations.
E
It has expanded growth and outlook in information technology careers.
8

What is the best definition of automation?

A
the use of robotic equipment in a manufacturing process
B
the application of scientific knowledge to find answers and fix problems
C
the use of resources to manufacture goods more efficiently
D
the hiring of workers from all over the world to manufacture goods
9

Technology can help governments handle economic emergencies, such as

A
the reliance on automation.
B
crop and resource shortages.
C
the fall of the unemployment rate.
D
instant sales and communication.
10

One negative consequence of using automation to improve manufacturing production is that

A
factories often need fewer workers.
B
production will often slow down.
C
costs often rise for producers.
D
prices often increase for consumers.

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