6 effects of technological developments

Question 1

Define the global marketplace.

Answer 1

The global marketplace describes the customer base and potential consumers there. It also describes the business tactics and behaviours of the producers

Question 2

How do producers in the global marketplace cut costs to create greater profits?

Answer 2

Sending work overseas, such as production of t-shirts for H&M or M&S, or architects drawings being sent overseas in order to get it done overnight, faster, for less. The decreased price of production and low pay means that, despite the travel costs, it is still vastly cheaper to outsource the labour to sweatshops.

Question 3

Name 4 modern and smart materials.

Answer 3

Shape memory alloys (reverts to original shape when heated), Reactive or “smart” glass (turns cloudy when voltage is applied), Photochromic materials (reacts with light, such as fancy eyeglasses) and thermochromic materials (react with heat, such as thermometers).

Question 4

How has the development of electronics technology aided the development of modern products?

Answer 4

Improvements to transistors has allowed for more compact devices, and eventually the creation of Integrated circuits (ICs) that are present in all laptops and PCs today, with over 1,000,000 transistors built in.