AnswersTX-EconomicsEconomic Systems (continued)

Technology and Economics Answers

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1
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When the US government becomes aware of economic changes, the discovery is most likely to influence

A
how the nation allocates resources.
B
how companies interest buyers.
C
how producers ship products.
D
how economists study trends.
2
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One consequence of automation is that producers need fewer

A
customers.
B
machines.
C
materials.
D
workers.
3

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.
4

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.
5

This graph shows the US unemployment rate from August 2010 to November 2011. This graph suggests unemployment in the United States

Question illustration
A
will continue to fall.
B
will continue to rise.
C
will remain the same.
D
will only change a little.
6

What is one way that technology can improve the distribution of goods?

A
Workers can take Internet classes to gain new skills.
B
Automation can create goods more cheaply and easily.
C
Businesses can hire factory workers across the world.
D
Container ships can transport a number of goods at once.
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

How does the use of new technology in industry benefit consumers more so than producers?

A
Consumers can allocate their resources wisely.
B
Consumers have greater access to information.
C
Consumers can use materials from anywhere.
D
Consumers can ship goods around the world.
9

Which of these is an example of automation benefiting producers?

A
New machines allow a factory to produce goods using fewer workers.
B
New shipping methods allow a producer to manufacture goods overseas.
C
New manufacturing plants open in areas where labor costs are cheaper.
D
New education is provided to workers to operate new machinery.
10

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.

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