Which of the Following Is Not a Technology

question 14

Multiple Choice

Which of the following is not a technology?

• A) Band-Aids
• B) heart-lung machines
• C) the process of blood transfusion
• D) fruit salads with high vitamin C content
• E) blood pressure machines

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Definitions:

Perfectly Competitive

A market structure characterized by a complete absence of rivalry among the individual firms.

Price Takers

Firms or individuals who accept the market price as given and have no influence to change it due to their small market share.

Market Price

The prevailing rate at which a service or asset is traded in the free market.

Standardized Product

Goods or services that are uniform in quality and performance, allowing them to be interchangeable among consumers.