Question

Please answer the question about the economic idea of technology. Which of the statements is true of technology?

a.Technology refers to the processes a firm uses in production.
b.Technology refers most directly to the methods firm managers use to organize overseas operations.
c.Technology is the use of computers and software to create economic efficiency.
d.The economic definition of technology is unrelated to the management skills or training that firm employees may have.

Answer 1

The Correct Answer is C

Step-by-step explanation:

• Technology, for statisticians, is anything that assists us manufacture things quicker, more reliable or more affordable.
• When you think of technology there's a great opportunity you think of material things like large devices or high-speed computers.
• But when statisticians debate about technology, they're imagining more broadly about distinct methods of making things.

Answer 2

C - Technology is the use of computers and software to create economic efficiency

Step-by-step explanation:

The economic idea of technology refers to everything that can assist in producing goods more efficiently (faster/cheaper/higher quality). Economists refer to technology as an innovative method of executing things, rather than referring to physical hardware.