Question
Unit 5 Sample Work Graphic Organizer
Name-
Make a copy of this worksheet, rename it and save it. Use your copy of the document to complete the assignment using the instructions below. Turn in your completed copy.
Assignment
Economic decisions have opportunity costs and benefits. An opportunity cost is the potential gain that is lost when making a decision to go with one thing over another. For example, if you choose to walk rather than drive, you are losing the potential advantage of a faster mode of transportation, for the benefit of the exercise that walking provides.
Analyze the opportunity costs and benefits of economic decisions on society, on individuals, and yourself. Focus your response on how technology changed the world and its opportunity costs and benefits. Support your answer with historical and contemporary examples, including some from your own life.
Answer the questions below. Use complete sentences.
Pick a technological change.
What technological change are you using?
Advances in power and steam engine
How did this decision change the world?
Working conditions were different from rural life
Living conditions changed more cramped
Urban instead of rural
Unsafe working conditions
Worked for wages
Standard of living initially went down
But later it rose for everyone
New class called the middle
mass production make goods more accessible
Over time the quality of goods improves improves
Owners made lots of money invested it into better factories
Increased trade
Pollution a problem for the environment
Public health is an issue
What are the opportunity costs and benefits of this decision on society, individuals and on you?
Costs-
Public health
Environmental
Dependant on wages
Rural lifestyles
Benefits-
Support your answer with a contemporary example
Name-
Make a copy of this worksheet, rename it and save it. Use your copy of the document to complete the assignment using the instructions below. Turn in your completed copy.
Assignment
Economic decisions have opportunity costs and benefits. An opportunity cost is the potential gain that is lost when making a decision to go with one thing over another. For example, if you choose to walk rather than drive, you are losing the potential advantage of a faster mode of transportation, for the benefit of the exercise that walking provides.
Analyze the opportunity costs and benefits of economic decisions on society, on individuals, and yourself. Focus your response on how technology changed the world and its opportunity costs and benefits. Support your answer with historical and contemporary examples, including some from your own life.
Answer the questions below. Use complete sentences.
Pick a technological change.
What technological change are you using?
Advances in power and steam engine
How did this decision change the world?
Working conditions were different from rural life
Living conditions changed more cramped
Urban instead of rural
Unsafe working conditions
Worked for wages
Standard of living initially went down
But later it rose for everyone
New class called the middle
mass production make goods more accessible
Over time the quality of goods improves improves
Owners made lots of money invested it into better factories
Increased trade
Pollution a problem for the environment
Public health is an issue
What are the opportunity costs and benefits of this decision on society, individuals and on you?
Costs-
Public health
Environmental
Dependant on wages
Rural lifestyles
Benefits-
Support your answer with a contemporary example
Answers
GPT-4o mini
**Unit 5 Sample Work Graphic Organizer**
**Name:** [Your Name Here]
**Technological Change:** Advances in power and steam engine
---
**1. How did this decision change the world?**
The advances in power and the steam engine revolutionized transportation and manufacturing, leading to significant societal shifts. With the rise of factories, working conditions markedly changed from the agricultural lifestyle of rural areas to challenging urban labor environments. People migrated to cities for work, resulting in more crowded living conditions. Initially, the standard of living for many workers declined as they endured unsafe working conditions for wages that did not reflect the hours and effort required. However, over time, the emergence of a new middle class led to improved quality of life and goods due to mass production. The ability to produce items quickly and efficiently made goods more accessible, leading to increased trade. Unfortunately, these advancements were not without their downsides, such as environmental pollution and public health crises.
---
**2. What are the opportunity costs and benefits of this decision on society, individuals, and yourself?**
**Opportunity Costs:**
- **Public Health:** The rapid industrialization led to poor air quality and sanitation issues in crowded urban areas, impacting people's health.
- **Environmental Costs:** The pollution generated from factories contributed to long-term environmental degradation.
- **Loss of Rural Lifestyles:** The shift to urban living meant losing the peacefulness and self-sufficiency of rural life.
- **Dependency on Wages:** Individuals became dependent on factory jobs for income, making them vulnerable to economic fluctuations and layoffs.
**Benefits:**
- **Economic Growth:** The development of factories and mass production spurred economic growth and job creation.
- **Increased Standard of Living:** Over time, the initial struggles led to better wages, better working conditions, and improved access to goods and services, enhancing the overall quality of life.
- **Technological Advancements:** Innovations in machinery and steam power led to further technological progress across various industries.
- **Rising Middle Class:** The creation of a middle class contributed to social mobility and greater participation in the economy.
---
**3. Support your answer with a contemporary example.**
A contemporary example of the principles seen in the rise of the power and steam engine can be observed in the impact of information technology, such as the internet. The decision to widely adopt digital technology has revolutionized communication, information access, and global trade. While it has created opportunities for remote work and global collaboration, it has also resulted in job displacement in traditional sectors, privacy concerns, and a digital divide where not everyone has equal access to technology. In my own life, the ability to work from home has provided flexibility and reduced commute times, but the constant connectivity can lead to work-life balance challenges, illustrating both the benefits and opportunity costs of technological advancement.
---
*Note: Adapt and fill in your personal experiences and additional details as needed.*
**Name:** [Your Name Here]
**Technological Change:** Advances in power and steam engine
---
**1. How did this decision change the world?**
The advances in power and the steam engine revolutionized transportation and manufacturing, leading to significant societal shifts. With the rise of factories, working conditions markedly changed from the agricultural lifestyle of rural areas to challenging urban labor environments. People migrated to cities for work, resulting in more crowded living conditions. Initially, the standard of living for many workers declined as they endured unsafe working conditions for wages that did not reflect the hours and effort required. However, over time, the emergence of a new middle class led to improved quality of life and goods due to mass production. The ability to produce items quickly and efficiently made goods more accessible, leading to increased trade. Unfortunately, these advancements were not without their downsides, such as environmental pollution and public health crises.
---
**2. What are the opportunity costs and benefits of this decision on society, individuals, and yourself?**
**Opportunity Costs:**
- **Public Health:** The rapid industrialization led to poor air quality and sanitation issues in crowded urban areas, impacting people's health.
- **Environmental Costs:** The pollution generated from factories contributed to long-term environmental degradation.
- **Loss of Rural Lifestyles:** The shift to urban living meant losing the peacefulness and self-sufficiency of rural life.
- **Dependency on Wages:** Individuals became dependent on factory jobs for income, making them vulnerable to economic fluctuations and layoffs.
**Benefits:**
- **Economic Growth:** The development of factories and mass production spurred economic growth and job creation.
- **Increased Standard of Living:** Over time, the initial struggles led to better wages, better working conditions, and improved access to goods and services, enhancing the overall quality of life.
- **Technological Advancements:** Innovations in machinery and steam power led to further technological progress across various industries.
- **Rising Middle Class:** The creation of a middle class contributed to social mobility and greater participation in the economy.
---
**3. Support your answer with a contemporary example.**
A contemporary example of the principles seen in the rise of the power and steam engine can be observed in the impact of information technology, such as the internet. The decision to widely adopt digital technology has revolutionized communication, information access, and global trade. While it has created opportunities for remote work and global collaboration, it has also resulted in job displacement in traditional sectors, privacy concerns, and a digital divide where not everyone has equal access to technology. In my own life, the ability to work from home has provided flexibility and reduced commute times, but the constant connectivity can lead to work-life balance challenges, illustrating both the benefits and opportunity costs of technological advancement.
---
*Note: Adapt and fill in your personal experiences and additional details as needed.*