What Does the Term Technology Mean to an Economist

question 36

Multiple Choice

What does the term technology mean to an economist?

• A)The way various factors of production are combined to obtain output.
• B)The most recent methods of production.
• C)High-tech methods of production as found,for example,in the computer industry.
• D)The way in which products are allocated.

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Definitions:

Voting Power

The ability or right of an individual or group to influence decisions through the act of voting, often in the context of corporate governance or political elections.

Nonprofit Corporation

An organization established for purposes other than making a profit, often enjoying specific tax benefits.

Special Meeting

A meeting called for a specific purpose, distinct from regular meetings, often to address urgent issues within an organization.

Derivative Suit

A lawsuit brought by a shareholder on behalf of a corporation against a third party, often the corporation's executives or directors, due to failure in their corporate duties causing harm to the company.