In an Intensive Care Unit,you Order New Devices to Measure

question 13

Multiple Choice

In an intensive care unit,you order new devices to measure heart rhythm and rate,respiratory rate,oxygen levels,and intracranial pressure.Which of the following do these devices involve?

• A) Biomedical technology
• B) Telecommunications
• C) Retrieval of patient history information
• D) The Internet

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Definitions:

Capital-Intensive

A type of industry or business that requires large amounts of capital investment in comparison to labor to produce goods or services.

Labor-Intensive

A term describing industries or businesses that require a large amount of human labor relative to capital equipment to produce goods or services.

Comparative Advantage

The ability of a country, firm, or individual to produce a particular good or service at a lower opportunity cost than others, leading to more efficient trade outcomes.

PPCs (Production Possibility Curves)

Graphical representations that show the maximum possible output combinations of two goods that an economy can achieve when all resources are fully and efficiently utilized.