
The difference between technology and technological change is that
A) 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.
B) technology is carried out by firms producing physical goods but technological change is an intellectual exercise into seeking ways to improve production.
C) 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.
D) technology involves the use of capital equipment while technological change requires the use of brain power.
Correct Answer:
Verified
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Q6: The process a firm uses to turn
Q7: When a firm experiences a positive technological
Q9: Which of the following statements correctly describes
Q10: The basic activity of a firm is
A)to
Q11: To improve the work environment for its
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Q13: A firm increased its production and sales
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