Technology Is the Process by Which Inputs Are Transformed into Outputs

question 123

True/False

Technology is the process by which inputs are transformed into outputs.

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Definitions:

Technological Change

The development and application of new ideas, inventions, and innovations in processes and products.

Profit Motive

The driving force behind business operations and entrepreneurship, characterized by the desire to earn financial gain from activities.

Digital Camera

A device that captures photographs in digital format, allowing for storage, display, and sharing on electronic platforms.

Product Innovation

The development and sale of a new or improved product (or service).