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Document Preview: Economics 339Economics of Technological ChangeFinal Exam Review QuestionsA selection of questions very similar to the ones below will appear on the final exam.  There will be some choice, but the extent of the choice will not be known until the final exam.  Your answers should be primarily based upon the readings and lecture notes presented in the course.  Be sure to include and define key economic theories, relationships, concepts and terms. Include graphs or equations where relevant. Some reference to the historical context will also be expected where appropriate.Part A -  Answer any ONE of the following questions (10 marks)How did the video ‘Round Cape Horn’ illustrate economic principles discussed in the course?(5 marks) In what ways did the content of the video influence your thinking? How did the content contrast, complement or contradict what you have understood about the forces of technological change (5 marks).How did the video ‘King Corn’ illustrate economic principles discussed in the course? (5 marks) In what ways did the content of the video influence your thinking? How did the content contrast, complement or contradict what you have understood about the forces of technological change (5 marks). How did the Gulf of Georgian Cannery and Britannia Shipyard illustrate economic principles discussed in the course? (5 marks) In what ways did your experience influence your thinking? How did the content contrast, complement or contradict what you have understood about the forces of technological change (5 marks). Part B - Answer any TWO of the following questions (20 marks each).  1. How did C. Knick Harley explain the persistence of sailing cargo ships like those on the nitrate trade during the Age of Steam? What are the implications of his findings?2. How did W. Adams and J.B. Dirlam assess the performance of management in the American steel industry? What were their conclusions? 3. What is collective invention and how might it contribute...

Robert · Accepted Answer

Economics of Technological Change    1
Running Head: Economics of Technological Change
Economics of Technological Change
Economics of Technological Change    2
Part A 
Answer 1  
 The round Cape Horn Archipelago region, it offers a standard place for active 
improvement first step particularly now that the area is facing increasing pressures of growth, 
tourism, aquaculture, and the development of natural resources (Ries, 2003). In 1914, opening 
the Panama Canal reduced the need for ships to round Cape Horn. Due to changes in 
technological tools and opening the canal it increases the opportunity to contact with other places 
and make capable of performing the business with those countries. The development of the 
business opportunity and connection with the developed countries help to grow their economy 
level or standard.  
Part B 
Answer 4 
 During the 18th century, the adoption of coke fired smelting in the British coke industry 
moved to areas with available resources including the raw materials in areas of Britain. In the 
early 19
th
 century, there were needed the development in further techniques. The coke smelting 
adaptation was slow and process suffered from poor quality control (Evans & Rydén, 2005). 
During this period, the production was slower, non-controllable and unable to provide a uniform 
product. But using the some new technology during the production, it helps to raise the quality 
and adoption process of producing coke. After development in the quality process, the demand 
further increased with engineer open hearth process.   
Answer 5 
 In economics, the term total-factor productivity (TFP) defined as the multi-factor 
productivity is varying which explains effects in total output not caused by measured inputs.

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