A. New and Emerging Technologies Flashcards
What is automation?
Enables repetitive tasks to be performed by mechanised assembly lines rather than by a human.
What are robots?
Can be controlled to automatically perform a series of complex movements. Can be used to substitute humans in environments that are hazardous to humans.
Commonly used in assembly lines
What are robots?
Can be controlled to automatically perform a series of complex movements. Can be used to substitute humans in environments that are hazardous to humans.
Commonly used in assembly lines
Advantages of automation
- Increased efficiency and speed of production
- Accurate and consistent input
- Reduced labour costs
- Can work in a variety of environments
Disadvantages of automation
- Replaces workforce leading to job losses
- No human input/decision making
- Up-skilled workforce to maintain robots
- Expensive to set up
What is crowdfunding?
The use of small amounts of capital from many individuals to finance a new business venture.
Disadvantages of crowdfunding
If the venture doesn’t reach a funding target, any money already collected has to be returned to the investors.
What is a cooperative?
An enterprise that is owned and run by its members (workforce or customers)
What does it mean if a product is fair trade?
The companies who are selling the product have ensured that the farmers and workers who have made the product have had decent working conditions and there have been fair terms of trade for workers in less economically developed countries
Advantages of using social media to raise awareness for a new company?
- Enables mass-marketing for a low cost
- Can attract global attention
What is a finite resource?
Resources in limited supply that are being used more quickly than they can be replaced
Examples of finite resources
Fossil fuels (gas and coal), minerals, some metal ores
What is a non-finite resource?
Resources in abundant supply that are unlikely to ever be exhausted
Examples of non-finite resources
Solar and wind energy, timbers cotton
What is a Life Cycle Assessment (LCA)?
A way for companies to assess the environmental impact of a product during the different stages of a product’s life