The Difference Between Technology and Technological Change Is That

question 136

Multiple Choice

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.

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Definitions:

Managing Director (MD)

The senior-most executive in an organization or business, typically responsible for strategy, decision-making, and day-to-day operations.

Board of Directors

A group of individuals elected by shareholders to oversee the activities and direction of a corporation.

Financial Performance

A measure of how well a company is using its assets to generate profits, often analyzed through financial statements like the income statement and balance sheet.

Disaggregate

To break down into smaller components or elements for analysis or examination.