1. Technology
and the Global Economy

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

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

4. Is this Technology?
YES!

5. Is this Technology?
YES!

6. Is this Technology?
No!

7. Is this Technology?
YES!

8. Is this Technology?
YES!

9. Is this Technology?
No!

10. Technology
Draw 10 other forms
of technology!

11. 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

12. 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

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

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

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

16. Technology & the Global Economy
To create __________.
wealth

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

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

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

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

21. Technology & the Global Economy
Complete the Processing
Activity