The difference between technology and technological change is that
A) technology is product -centered, that is, developing new products with our limited resources, while technological change is process -centered in that it focuses on developing new production techniques.
B) technology is carried out by firms producing physical goods while technological change is an intellectual exercise into seeking ways to improve production.
C) technology refers to the processes used by a firm to transform inputs into output while technological change is a change in a firm's ability to produce a given level of output with a given quantity of inputs.
D) technology involves the use of capital equipment while technological change requires the use of brain power.
Correct Answer:
Verified
Q2: Suppose a chain of convenience stores reorganized
Q3: Rola quit her job as a buyer
Q4: Rola quit her job as a buyer
Q5: The law of diminishing marginal returns
A) holds
Q6: Q7: Average fixed costs of production Q8: Adam spent US$10,000 on new equipment for Q9: Suppose you have just opened a store
A) appear as
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