The Difference Between Technology and Technological Change Is That

question 136

Multiple Choice

The difference between technology and technological change is that

• A)technology refers to the processes used by a firm to transform inputs into output while technological change is a change in a firm's ability to produce a given level of output with a given quantity of inputs.
• B)technology is carried out by firms producing physical goods but technological change is an intellectual exercise into seeking ways to improve production.
• C)technology is product-centered, that is, developing new products with our limited resources while technological change is process-centered in that it focuses on developing new production techniques.
• D)technology involves the use of capital equipment while technological change requires the use of brain power.

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