Technology Is the Single Most Important Factor in the Development

question 11

True/False

Technology is the single most important factor in the development of successful new products.

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Definitions:

Economic Growth

An increase in the production of goods and services in an economy over a period of time, often measured by GDP growth.

Simon Kuznets

A Ukrainian-American economist who made significant contributions to the study of economic growth, the development of the concept of Gross National Product, and the statistical analysis of economic cycles.

Automobile Industry

A sector of the economy that deals with the design, production, and selling of motor vehicles.

Human Capital

The collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or their community.