The Economy Is Making Progress Because Of The Mass...

The economy is making progress because of the mass production of technology. Due to globalization, innovations of technology has created an economic growth and made communication easy. A challenge that humanity must face, is the skill of cultural diversity. These conditions are altered because of the renewed dialogue among cultures and civilizations. (Ogohi) Many people in the 21st century benefit because of accessibility, whereas the Romans during the 1st century received information from being lectured and reading a book. Today, people depend on technology for; Information, Communication, Pleasure and Business. If catastrophic effect occurred that shut down all operational systems, society would be lost in confusion and dependant on our intelligence. (Business Insider) The Positive and Negative Effects of Globalization The negative effects of economic globalization are the loss of employment. The inefficient uncompetitive industries and loss of the monopoly power of local industries occurred because of businessmen and traders who exploit consumers by charging them higher prices for imported goods and supplying lower quality products, compared to internationally available quality. Other negative impact of globalization in a social-cultural aspect is that cultural values are lessoning in the western parts of the world. The most positive effects of globalization are elimination of local monopolies, elimination of inefficiency, and access to opportunities available allShow MoreRelatedUsing the four passages and your own knowledge, assess the view that the impact of the First World War was the main reason for the booming economy in the USA in the 1920’s1661 Words   |  7 Pagesreason for the booming economy in the USA in the 1920’s (40 Marks) I believe that the First World War did not have as much of a significant impact on the American economy as mass production, infact i however see that instead of benefiting the economy the War in fact had the reverse effect to that of which interpretation A and C suggest that the war was the most important factor of the 1920’s American economic boom. Firstly, the biggest reason as to why mass production was the main reason forRead MoreHydrogen And Hydrogen As A Fuel1518 Words   |  7 Pagesmost efficient furl because of its abundance and the production of harmless bi-products as compared fossil fuel. Despite the abundance in its natural existence, Hydrogen can also be obtained through processes such as the electrolysis of water and methanol steam conversion. Hydrogen as a fuel is capable of the replacement of most of the other sources of energy. However, Hydrogen faces numerous obstacles to its entry into the economy and the utilization by human beings. The technology to contain and manageRead MoreEssay about Great Britain and the Industrial Revolution830 Words   |  4 Pagesearly stages of factory production. In addition, Britain was situated at a critical point for international trade. Its position between the United States and the rest of Europe allowed them to have a serious impact in all matters of trade. 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Tying this into the detriment of a high unemployment rate, we curre ntly have a 5.5% rate of unemploymentRead MoreNon Market Strategy Recommendation For Foxconn1542 Words   |  7 PagesTO: Foxconn Technology Group (Hon Hai Precision Industry Co., Ltd.) FROM: Kavon Baradaran and Julia Yang, Poka -Yoke Consulting DATE: October, 25, 2015 SUBJECT: Non-Market Strategy Recommendation for Foxconn Foxconn Technology Group is the number one firm among Electronics Manufacturing Services (EMS) providers since 2005, and is a global firm that goes beyond China and Taiwan. However, recent market research and analysis show that Foxconn is facing a rather unfavorable publicity regarding its