AnswersHSA 26-27 EconomicsResources and Scarcity

Technology and Economics Answers

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Economic patternsEconomic peaksEconomic theories

A
Economic patterns
B
Economic peaks
C
Economic theories
2
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The government of country A has determined there is a coal shortage based on mining reports. As a result of these data, the government decreases coal exports to other nations. Access to information helped country A

A
allocate resources.
B
limit consumption.
C
purchase goods.
D
increase sales.
3

Technology can help governments handle economic emergencies, such as

A
the reliance on automation.
B
crop and resource shortages.
C
the fall of the unemployment rate.
D
instant sales and communication.
4

What is the best definition of economic data?

A
Economic data is information used for calculation, analysis, or planning.
B
Economic data is the fastest time it takes to use the fewest resources.
C
Economic data is knowledge that can be applied to create solutions.
D
Economic data is a determination based on patterns and evidence.
5

What is the best definition of technology?

A
Technology is replacing human workers with mechanical or electronic devices.
B
Technology is applying scientific knowledge to find answers and fix problems.
C
Technology is using fewer resources to manufacture goods more efficiently.
D
Technology is hiring workers from all over the world to manufacture goods.
6

This graph shows the US unemployment rate from August 2010 to November 2011.This graph could help an economist predict

Question illustration
A
how the government will address unemployment.
B
which industries are most in need of workers.
C
how many people will be out of work in the next year.
D
why producers might hire fewer workers in the future.
7

How does the use of new technology in industry benefit consumers more so than producers?

A
Consumers can allocate their resources wisely.
B
Consumers have greater access to information.
C
Consumers can use materials from anywhere.
D
Consumers can ship goods around the world.
8

How can the use of new technology in industry benefit workers?

A
Workers can react to economic change quickly.
B
Workers can identify economic emergencies.
C
Workers can gain new knowledge and skills.
D
Workers can make economic forecasts.
9

How has information technology impacted the economy? Choose three answers.It has allowed economists to better predict how resources should be allocated.It has assisted governments to make better economic policy decisions.It has become more difficult for businesses to identify when shortages will occur.It has steadily increased the amount of time to share data between locations.It has expanded growth and outlook in information technology careers.

A
It has allowed economists to better predict how resources should be allocated.
B
It has assisted governments to make better economic policy decisions.
C
It has become more difficult for businesses to identify when shortages will occur.
D
It has steadily increased the amount of time to share data between locations.
E
It has expanded growth and outlook in information technology careers.
10

Which of these is an example of automation benefiting producers?

A
New machines allow a factory to produce goods using fewer workers.
B
New shipping methods allow a producer to manufacture goods overseas.
C
New manufacturing plants open in areas where labor costs are cheaper.
D
New education is provided to workers to operate new machinery.
11

When the US government becomes aware of economic changes, the discovery is most likely to influence

A
how the nation allocates resources.
B
how companies interest buyers.
C
how producers ship products.
D
how economists study trends.
12

Producers can generate instant sales by using

A
devices.
B
forecasts.
C
patterns.
D
websites.
13

What is the best definition of automation?

A
the use of robotic equipment in a manufacturing process
B
the application of scientific knowledge to find answers and fix problems
C
the use of resources to manufacture goods more efficiently
D
the hiring of workers from all over the world to manufacture goods
14

One consequence of automation is that producers need fewer

A
customers.
B
machines.
C
materials.
D
workers.
15

One negative consequence of using automation to improve manufacturing production is that

A
factories often need fewer workers.
B
production will often slow down.
C
costs often rise for producers.
D
prices often increase for consumers.
16

This graph shows the US unemployment rate from August 2010 to November 2011. This graph suggests unemployment in the United States

Question illustration
A
will continue to fall.
B
will continue to rise.
C
will remain the same.
D
will only change a little.
17

Which group typically predicts trends in industry based on patterns?

A
consumers
B
economists
C
producers
D
shippers

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