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7 Resources of Tech
Technology needs 7 resources in order to be developed
Term | Definition |
---|---|
Tools | Used to help change materials into a finished product - hand tools, power tools, machines and heavy equipment. |
Information | The knowledge needed in order to design the product, make the product and even sell the product. |
Capital | Includes the money, credit, land, and equipment needed to produce the product. It is used to build factories, pay workers and buy materials. |
Time | This influences how many products can be made and how many workers are needed to make them. Everything takes time. |
Energy | This powers computers and other machines - provides light, heat and air conditioning to factory buildings. Used to change materials into products and to deliver those products to stores and customers. |
Materials | All the things used from nature to make the product. Can be either natural or synthetic. |
People | Designs, produces and sells the products. Our needs and wants drive the design and development of technology. |