A Changing Economy (College Board AP® US History): Flashcards
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Define Digital Revolution.
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Cards in this collection (15)
Define Digital Revolution.
The Digital Revolution was the transition from analog to digital technology, which transformed industries, communication, and daily life.
Why was IBM's 1981 Personal Computer significant?
It made computers accessible to homes and businesses and set a new industry standard.
How did the Digital Revolution affect productivity and globalization?
It increased the efficiency and speed of communication worldwide and connected businesses and consumers across borders.
The Internet began in the late 1960s as a project to create a communication network.
The Internet began in the late 1960s as a military project to create a communication network.
What did the World Wide Web (early 1990s) make possible?
It made possible user-friendly navigation of online information through web browsers.
How did email change office communication?
Email replaced faxes, memos, and letters, letting users communicate globally.
How did e-commerce change the economy?
Companies such as Amazon and PayPal revolutionized shopping and financial transactions.
What role did Microsoft (founded 1975) play in the Digital Revolution?
Its programs, such as Word and Excel, standardized most office tasks.
Define dot-com boom.
The dot-com boom was the rise of companies operating mostly online, offering services and products through websites.
Define outsourcing.
Outsourcing is when companies use third-party organizations, usually overseas, for staffing and production to cut costs.
What were the effects of free trade agreements?
Free trade agreements expanded global markets, stimulated economies, and built economic interdependence, but caused job losses as companies moved production to nations with lower labor costs.
Define service sector.
The service sector is made up of industries that provide services rather than physical goods, such as education, healthcare, and hospitality.
Why did the service sector grow?
Technological advances improved services, demand rose as the population grew, and global competition among service businesses increased.
Define real wages.
Real wages are wages adjusted for inflation, showing purchasing power over time.
True or False?
Economic growth during the Digital Revolution raised real wages for many workers.
False.
Real wages for many workers did not change, because manufacturing jobs declined and service jobs usually paid less than skilled labor.
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