Technology Is

question 31

Multiple Choice

Technology is:

• A) the formulation of scientific concepts.
• B) the application of knowledge and tools to solve problems and perform tasks more efficiently.
• C) a theoretical science.
• D) one of the weakest marketing environment forces.
• E) the result of research performed primarily by universities.

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Definitions:

Controllable Costs

Expenses that can be influenced or managed by decisions made by specific managers or departments within an organization.

Relevant Range

The range of activity within which the assumptions about cost behavior for a company are valid.

Maximum Capacity

The highest level of output or activity that a company can sustain within a specific period under normal operating conditions.

Fixed Cost

Refers to expenses that do not change in total regardless of the level of production or sales volume, such as rent or salaries.