Technology
A) is constantly changing at every point along a production possibilities curve.
B) is the recipe for combining land, labor, physical capital, and entrepreneurship to produce a good.
C) does not have an effect on the amount of a good a society can produce with its given resources.
D) only changes if resources change.

Question

Quizplus · Accepted Answer

Technology refers to the methods and processes used to combine resources like land, labor, capital, and entrepreneurship to produce goods and services.