Questions and Answers
What can technology help governments handle in economic emergencies?
Crop and resource shortages
What is one way that technology can improve the distribution of goods?
Container ships can transport a number of goods at once
How can the use of new technology in industry benefit producers?
Producers can transport goods around the world
What is the best definition of economic data?
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Producers can generate instant sales by using what?
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How can the use of new technology in industry benefit workers?
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What is one negative consequence of using automation to improve manufacturing production?
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Which group typically predicts trends in industry based on patterns?
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Study Notes
Technology and Economic Emergencies
- Technology aids governments in managing economic crises, such as crop and resource shortages.
Improved Distribution of Goods
- Container ships enhance goods distribution by transporting multiple items simultaneously.
Benefits of Technological Adoption in Industry
- New technology enables producers to move goods globally, expanding market reach.
Economic Data Significance
- Economic data refers to information utilized for calculation, analysis, or planning purposes, essential for decision-making.
Instant Sales for Producers
- Websites facilitate instant sales opportunities for producers, enhancing market presence.
Workforce Development Through Technology
- Workers benefit from new technology by acquiring updated knowledge and skills, increasing job competency.
Automation's Impact on Manufacturing
- A downside of automation in manufacturing is the reduced necessity for human labor, potentially leading to job losses.
Economists and Trend Prediction
- Economists specialize in forecasting industry trends by analyzing data patterns and economic indicators.
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Description
Explore how technology impacts economic efficiency and crisis management through this set of flashcards. Learn about the roles of innovations in distribution and production in modern economies.
