Technology Is Best Defined as

question 55

Multiple Choice

Technology is best defined as

• A)society's pool of applied knowledge concerning the production of goods and services.
• B)the maximum output that can be obtained from a stock of physical capital.
• C)output inside the production possibilities curve.
• D)the utilization of more resources for the same amount of production.

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Definitions:

Tender Of Performance

An offer by one party involved in a contract to perform their obligation, demonstrating readiness to fulfill the terms of the contract.

C.O.D. Shipment

Delivery method where payment is collected at the time of delivery rather than in advance.

Acceptance Of Goods

The act of a buyer signifying approval of goods received, implying that the goods meet contractual specifications and terms.

Commercial Impracticability

A doctrine under contract law where a party is excused from performing their contractual duties because unforeseen events have made performance excessively burdensome or impracticable.