Economists Define Technology as

question 142

Multiple Choice

Economists define technology as

• A) machines such as computers.
• B) entrepreneurship.
• C) absolute advantage.
• D) society's knowledge concerning the production of goods.

Understand the methods used to assess personality traits and types.

Analyze the influence of early childhood experiences on adult personality.

Explain the concept of defense mechanisms and their role in personality.

Understand the concept of temperament and its basis.

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Definitions:

Net National Income Per Capita

A measure that represents the total income of a nation divided by its population, indicating the average income per person.

Gross National Income Per Capita

The total domestic and foreign output claimed by residents of a country, divided by the population of the country.

Net Domestic Product Per Capita

A measure of a country's economic output per person, excluding the costs of depreciation of capital goods. It gives an indication of the average standard of living and economic well-being of the population.

Command-based Economy

An economy where production, investment, prices, and incomes are determined centrally by a government.