How is Technology Affecting The Marketplace?

The innovation of online shopping has made it easier to buy goods quickly and often
much cheaper, so retail stores are getting much less in-store business. The retail sector
would have a loss of almost 40 million jobs in the next twenty years if online shopping
continues to grow in popularity. On average, 6 percent of all retail sales are done online, and
it is projected to increase to at least 20 percent within the next decade. This type of
technology has become a positive effect on the economy because consumers tend to make
more informative decisions on products with the use of technology, but it can easily hurt
consumers because online shopping makes it easier to buy on impulse. Shipping companies
are getting much more business because of these purchases as well. Consumer spending has
increased because of technology, which leads to a healthier economy. When people make
confident buying decisions, the economy typically does better.

More Information on the Marketplace

Amazon Or Ebay? N.d. Photograph. Myspace. 13 July 2011. Web. 11 Dec. 2012.
UPS vs. USPS. N.d. Photograph. Custom ASAP Blog. Web. 11 Dec. 2012.
"How Does Technology Affect Our Economy?" Dairy Infotech . N.p., 31 Aug. 2012. Web. 11
Dec. 2012.
Posted by Lindsey Thompson at 9:50 PM

How Is Technology Benefitting Manufacturers?

New kinds of technology increase the efficiency and thus lower the cost of production. A
manufacturer can produce a significant more due to the lowered cost of parts. A major factor

that manufacturers are dealing with is the decreasing need for employees. Machines can work
more efficiently and at little cost, whereas employees can be much slower and require an
income. An increase in the level or production can help boost the economy, but also creates the
problem of unemployment. Manufacturers are benefitted by technology, but contribute to
unemployment at the same time. They are forced with a tough decision, and both have negative
and positive effects on the economy.

Combine

Cotton Gin

More Information on Manufacturers

Combine. N.d. Photograph. LevensmiddelenKrant. Web. 11 Dec. 2012.
Eli Whitney Patents the Cotton Gin. N.d. Photograph. 14 Mar. 2011. Web. 11 Dec. 2012.
"How Do Businesses Use Technology Today?" Yahoo! Answers. Yahoo!, 2008. Web. 11 Dec.
2012.

How Is Technology Influencing International Trade?

The invention of technology has helped considerably change the way that countries trade
goods. Because technology improves the efficiency of production, the United States has the
ability to make more goods in a shorter amount of time so that more goods can be traded
worldwide. Because of technology, we can easily converse with other countries, and thus
trade goods more efficiently. The national debt is linked to the trade between countries, so
an improvement with technology-related trade could be a huge factor in getting our
economy back on track again.

More Information On International Trade

Air Freight. N.d. Photograph. American Sourcing Partners. Web. 11 Dec. 2012.
"Total U.S. Trade: Exports + Imports 1992 to 2011." Chart. Blogspot. N.p., 11 Feb. 2012. Web.
11 Dec. 2012.
Grossman, Gene M., and Elhanan Helpman. "Technology and Trade." NBER. G. Grossman, Nov.
1994. Web. 11 Dec. 2012

How Does Technology Impact Communication?

Technology changes communication entirely. There are tons of ways that businesses
communicate with others and it has helped improve efficiency of relations and trading
among them. Businesses thirty+ years ago had essentially three ways to communicate.
They could either use a phone, write a letter, or visit in person. Now, businesses have more
options, including internet media, texting, chatting, and web and video
conferencing. Businesses can communicate faster and more effectively while saving
significant time and resources. Time and money spent traveling has been reduced through

virtual meetings using web and video conferencing. Unplanned meetings can now be far
more effective because companies can quickly get the information they need from another
business. Businesses can put this saved time and money to use for other needs that could
not have been considered before new communication options.

More Information On Communication

Harankhedkar, Hemangi. "Impact of Technology on Communication." Buzzle.com. Buzzle.com,

07 June 2011. Web. 12 Dec. 2012.

Video Conference. N.d. Photograph. Bikyamasr. 22 July 2011. Web. 12 Dec. 2012.

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