Explain the relationship between production technology and the economy.
Explanation should include some effects that technological change (i.e., invention and innovation) in production has had on global economies, and vice versa. Economic needs drive production technologies through demand. Market needs drive advances in production technology and the creation of new products and services.
Explanation should also include a discussion of the sustainability of various technological changes.
Process/Skill Questions:
- Are there examples where initial change was not sustained? If so, what was the cause?
- What is economics?
- What is the gross domestic product?
- How have consumers affected manufacturing in the past and in what ways do they affect it now?
- How has the economy affected production in your local area?