The Textbook Classifies Technology as _______ and Entrepreneurs as _______

question 114

Multiple Choice

The textbook classifies technology as _______ and entrepreneurs as _______ .

• A) knowledge; persons who seek profit by finding new ways to organize factors of production
• B) capital; labor
• C) labor skills; capital
• D) a factor of production; a factor of production

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Definitions:

HR Function Evaluation

The process of assessing and measuring the effectiveness and efficiency of the human resources department in meeting the organization’s objectives.

Organization Conduct

Pertains to the behavior, ethics, and practices that an organization follows in its operations and interactions with stakeholders.

Price Elasticity

A measure of the responsiveness of demand or supply for a good or service to changes in its price, indicating how quantity demanded or supplied shifts when prices move.

Linear Demand Curve

A graphical representation showing a straight-line relationship between product price and the quantity of the product demanded.