Technology and the Global Economy.

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Presentation transcript:

Technology and the Global Economy

Technology & the Global Economy How would you define the word above?

Technology & the Global Economy What is technology? The application of scientific principles to solve practical problems.

Is this Technology? YES!

Is this Technology? YES!

Is this Technology? No!

Is this Technology? YES!

Is this Technology? YES!

Is this Technology? No!

Technology Draw 10 other forms of technology!

Technology & the Global Economy The Global Economy: a worldwide market in which the _________ and __________ of goods and services by all nations takes place. buying selling

Technology & the Global Economy Impact of Technological Innovations: Innovations in technology (e.g., the internet) contribute to the global flow of ______________, _________, _______, and ___________. information capital goods services

Technology & the Global Economy Impact of Technological Innovations: The use of such technology also lowers the cost of _____________. production

Technology & the Global Economy *Technological advancements create new ______ in the workplace. jobs

Technology & the Global Economy Virginia & the Untied States: ________________ in the production of certain goods and services promotes _______________ and _________. Specialize efficiency growth

Technology & the Global Economy To create __________. wealth

Technology & the Global Economy Reasons that States & Nations Trade: To obtain goods and services they cannot ________ or cannot produce efficiently themselves. produce

Technology & the Global Economy Reasons that States & Nations Trade: To buy goods and services at a lower _____ or a lower opportunity cost. cost

Technology & the Global Economy Reasons that States & Nations Trade: To _____goods and services to other countries. sell

Technology & the Global Economy Reasons that States & Nations Trade: To create ______. jobs

Technology & the Global Economy Complete the Processing Activity

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