Intermediate Technology Is

question 59

Multiple Choice

Intermediate technology is:

• A)technology between the capital- and labor-intensive processes.
• B)synonymous with necessary technology.
• C)older technology previously used by multinationals.
• D)synonymous with cutting edge technology.

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Definitions:

Supply of Land

The total land area that is available for a particular use, such as agriculture, industry, or housing, which is often fixed and inelastic in the short term.

MRP Curve

The marginal revenue product curve, illustrating the additional revenue generated from employing one more unit of a factor of production.

Firms' Demand

The quantity of goods or services that businesses are willing and able to purchase at a given price level, often influenced by factors like price changes, consumer preferences, and market trends.

Demand for Land

The desire for land ownership, driven by potential uses such as agriculture, residential, commercial, or industrial development.