Final answer:
The word that represents both tools and the necessary skills or procedures to make and use them is technology. This term includes both physical devices and the knowledge to create and use such tools, and it embodies inventions and innovations in various fields.
Step-by-step explanation:
The word that means both "tools" and "the skills or procedures necessary to make and use those tools" is technology. Technology encompasses not only physical devices such as computers and smartphones but also the knowledge and processes involved in creating and utilizing these devices. It refers to the practical application of science in various fields to solve problems, improve pre-existing methods, or innovate new products.
Technology can be traced back to the earliest stages of human society with simple inventions and has progressively evolved to include complex systems and advanced engineering tools. Over time, technological advancements have led to the development of new products, enhanced quality of outputs, and more efficient organizational methods such as the assembly line. In modern economies, technology plays a crucial role, often driving research and development (R & D) efforts despite the fact that innovations become broadly available and may diminish individual or firm motivation for R & D investment without legal protections like patents.