In Economics, the Term Technology Refers to Different Ways of Combining

question 33

True/False

In economics, the term technology refers to different ways of combining resources to produce output.In this sense, technological advances make possible the production of more output from a given amount of resources.

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Definitions:

Personal Moral

An individual's set of ethical principles or values that guide their behavior and decision-making processes.

Societal Culture

The shared values, norms, identities, and interpretations that influence the behavior of members of a society or social group.

Business Culture

The set of beliefs, ethics, practices, and behaviors that defines the way a company operates and interacts internally and externally.

Consumer Ethics

Refers to the moral principles that guide consumers in their purchase decisions, considering the impact on society, environment, and economy.