Technology Is the ____ Used to Transform Inputs (Raw Materials

question 29

Multiple Choice

Technology is the ____ used to transform inputs (raw materials, information, etc.) into outputs (products or services) .

• A)knowledge, tools, and techniques
• B)knowledge and machinery
• C)plans and machinery
• D)tools and techniques
• E)strategy and tactics

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Definitions:

Trade Deficit

A situation where a country imports more goods and services than it exports, resulting in a negative balance of trade.

Foreign Assets

Investments or properties owned by individuals, companies, or governments in countries other than their own.

Trade Balance

The difference in value between a country's imports and exports over a certain period, indicating the relative strength of its economy.

Net Capital Outflow

The sum representing a country's outbound investments minus its inbound investments from abroad over a specific period.