Question

D. Comparing the development of steel and the invention of the

computer chip, explain how technological development drove
economic change in both the Industrial Revolution and the
transition to a service-based economy.

Answer 1

Technological development played a significant role in driving economic change in the Industrial Revolution and the transition to a service-based economy.

Step-by-step explanation:

Technological development drove economic change in both the Industrial Revolution and the transition to a service-based economy through the advancements in steel production and the invention of the computer chip.

In the Industrial Revolution, the development of steel significantly influenced economic growth. The ability to produce large steel elements efficiently and cost-effectively led to advancements in industries such as buildings, railroads, and shipping.

In the transition to a service-based economy, the rapid increase in computer use played a major role. Computers replaced manual labor in factories and allowed for the outsourcing of manufacturing jobs to other countries. The growth of the Internet also created industries that operate primarily online.

Answer 2

- Facilitating the construction of railroads, bridges, tall buildings, larger ships, and other infrastructure

- Facilitating the manufacture of engines and other mechanized labor-saving services

- Facilitating the production of steel cable, steel rod, sheet metal, or steel alloys making for lightweight or stronger steel to use in manufacturing and construction

- Making the computer revolution and the digital age possible through internet commerce, cellular communications, networks, servers, and supercomputing.

- Powering service-sector industries such as information technology, financial services, retail, and education, all of which depend on the processing power and connectivity brought about by the computer chip

- Making all sectors of the economy more efficient through labor-saving computing devices