October half term test (weeks 2-4) Flashcards
What are “new and emerging technologies?”
any new technological developement in recent decades (around 20-30 years ago) Eg. mobile phones, wifi, AI etc.
What are consumers
Customers
companies exist to make money from consumers and they need to conisder t
What does automation do
Does repetitive tasks in assembly lines rather than a human
more precise, no human errors, does repetitive tasks fast
What can robots do
they can be used to substitute humans in hazardous environments (eg. high temperature, toxic fumes, dangerous work)
robots are one part of automation
Advantages of robots
just pick two or three to remember :)
- increased efficiency and speed of production
- accurate and consistent output (less waste)
- reduced labour costs and can work 24/7
- ability to work in a variety of environments + doing dangerous work
Disadvantages of robots
just pick two or three to remember :)
- replaces workforce leading to some job losses
- no human input/ decision making
- up-skilled workforce to maintain robots
- expensive to set up
What is enterprise?
Enterprise is the ability to identify a business opportunity, develop it and make it commercially successful.
What is crowd funding?
- use of small amounts of capital from many individuals to finance a new business venture.
- If the venture doesn’t meet the funding target, any funding is usually returned back to the investors.
- (damages reputation of comany if project fails)
What is virtual marketing/ retail?
The use of websites, social media, email and digital marketing to reach a wide audience to promote/sell a product, service or idea.
What is a cooperative?
an enterprise that is commonly owned and run its members who may comprise its workforce or customers.
What is Fair Trade?
An organisation that improves better prices, decent working conditions, and fair terms of trade for farmers and workers in less economically developed countries. (stop the exploitation of workers in poorer countries)
Give examples of products that are often protected by Fair Trade
Chocolate, wine, coffee, cotton, bananas etc
What is sustainability?
Protecting and maintaining the needs of the present without compromising the ability of future generations to meet their needs
What are finite resources?
Resources that are in limited supply and are bieng used more quickly than can be replaced.
What are non-finite resources?
Resources that are in abundant supply and are unlikely to ever to be exhausted. They can be grown or replaced at the rate that they are being used.
Examples of non-finite resources
solar, wind, timbers, cotton etc
Examples of finite resources
fossil fuels, metal ores, some minerals
What is a life cycle assessment?
a way for companies to assess the environmental impact of a product during the different stages of a product’s life.