Technology Education

Resources for Technology Section 1 People, Capital, Time, and Information Section 2 Energy, Materials, Tools & Machines Section 3 Choosing Resources In this chapter, you will learn about the seven resources of technology:100 Chapter 5

Resources for RunningResources are the things we need to get a job done. Thinkabout running shoes, for example. In the United States,more than 370 million pairs of shoes are sold each year.Making these shoes requires the following resources:• People to design the shoes, manufacture the shoes’ components, and assemble the shoes.• Capital, or money, to buy the raw materials and pay the people who make the shoes.• Time to complete the shoes’ design and manufacture.• Information that will ensure the shoes are well suited to people’s needs and are attractive to consumers.• Energy to transport raw materials to manufacturing plants, process the materials into shoes, and transport the finished product.• Materials to make the running shoes durable and comfortable.• Tools, such as machines for molding, stitching, and glu- ing the shoes.Every technological system involves the use of these sevenkinds of resources. TEACHING RESOURCES Teacher’s Resource Binder, Ch. 5 Computerized Test Bank CHAPTER OBJECTIVES • Describe how people’s needs drive technology. • Show how several categories of resources are necessary for the improvement of any technology. • Explain how various types of renewable and nonrenew- able energy sources are needed for technological systems to function. • Illustrate why resources must be appropriate and must be selected very carefully in order to optimize a system. • Examine the impacts of tech- nology. 101

People, Capital, Time, and Information Benchmarks for Learning Vocabulary Reading Strategy consumers • Every system involves the use capital Outlining How are people, capital, stock of seven basic resources. dividends time, and information used in tech- interest • Capital is needed to create data nology? Con- nanoseconds products and systems. sider this I. Resources for • Time is an increasingly impor- question as you Technology read through the A. People tant resource in our informa- section, and out- tion age. 1. Technology is a response • Processing data into informa- line your to the needs tion is key to the operation of response. and wants of systems. people. 2.Figure 5.1 Apollo 11 astro- Peoplenaut Edwin Aldrin stands facingthe U.S. flag on the moon. People are at the very heart of technology, which can be defined as the application of human knowledge to solveSummarizing Why did the practical problems. For this reason, technology should beUnited States feel the need to send considered a response to the needs and wants of people.astronauts into space? Companies use people as a resource to design and create products that maximize resources for our use. People are also the consumers (those who buy products or services) of technology. Advances in technology are generated by people’s needs, as well. For example, the Soviet Union sent the first satel- lite, Sputnik I, into space in 1957. The United States govern- ment decided to match this achievement. In 1958, NASA (National Aeronautics and Space Administration) was cre- ated to direct the space program. In 1969, astronauts from the United States landed on the moon (Figure 5.1). Technologists are constantly designing and developing new technology to meet ever-changing needs. For instance, for the Apollo 15 mission in 1971, NASA scientists had to combine their knowledge from earlier moon landings with new ideas to develop a lunar roving vehicle (LRV), as well as a way to get it to the moon and back safely. People are hired by companies as a resource for their ideas and expertise. Of course, people provide the labor on which technology depends. Many workers are needed to cre- ate the products and services we use every day. All of the seven resources you will learn about are impor- tant, but it is human knowledge that turns resources into goods and services.102 Chapter 5

Capital ENGAGECapital is another of the seven technological resources. To Using the example of “Resources forbuild houses or factories, to make toasters or automobiles, to Running” on page 101, discuss withmove people or goods, capital is needed. Any form of wealth students what might happen to run-is capital. Cash, stock, buildings, machinery, and land are all ning shoe manufacturing if eachforms of capital (Figure 5.2). resource, in turn, were not available. As an example, if manufacturing A company needs capital to operate. To raise capital, a information was inadequate, wouldcompany may sell stock, which allows people to own a small it be possible to manufacture thepiece of that company. Each share of stock has a certain shoes? Ask students, “Why not?value. When people buy stock in a company, their money is What might happen if manufacturersthen used to operate or expand the business. These inves- did not know enough? Has this situ-tors become part owners (shareholders) in the company. ation ever occurred in industryShareholders hope that the company will do well and that before?”their stock will become more valuable. When a company hasdone well, it may turn back some of its profits to investors inthe form of payments called dividends. Companies also borrow money from banks, for which thebanks charge a fee, or interest. This means that theamount of money that will have to be paid back is more thanthe amount borrowed. A company borrows money with thehope that profits will pay for both the loan and the interest. Another reason that capital is such an important resourceis that companies use it to pay their employees, the peoplewho not only come up with new ideas but also produce andmanufacture the products that are based on those ideas.Capital is often directed to the development of new technol-ogy in order to help a company increase its business. Figure 5.2 Capital resources, such as cash, are necessary for any technological project. Applying How might insuffi- cient capital affect the schedule for a project?People, Capital, Time, and Information 103