The feasible means of converting raw inputs such as steel, labor, and machinery into an output are summarized by:
A) Land.
B) Production.
C) Capital.
D) Technology.

Name: The feasible means of converting raw inputs such as steel, labor, and machinery into an output are summarized by: A) Land. B) Production. C) Capital. D) Technology.
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Question

Quizplus · Accepted Answer

Technology refers to the methods and processes used to transform inputs into outputs, making it the feasible means of conversion in production.

The Feasible Means of Converting Raw Inputs Such as Steel