Final answer:
The diffusion of technology describes how new technological innovations spread and are adopted by society, leading to economic development and social changes, with the most accurate description being its rate of adoption by society at large.
Step-by-step explanation:
The concept of diffusion of technology refers to the spread of technological innovations and their adoption by society. This phenomenon is a key aspect of technological globalization, which accelerates the sharing of new technologies across borders, leading to both economic growth and various societal changes. The option that most accurately describes the concept of diffusion of technology is B: referring to the rate at which new, cutting-edge technology is adopted by society at large. As technologies are adopted, they can provide significant improvements to the quality of life, as well as foster economic development, particularly in peripheral or semi-peripheral nations.
For example, technology like mobile phones can lead to competitive markets and lower prices, and innovations such as mobile banking facilitate financial transactions for people even in rural areas. Furthermore, development in technology can result in new social practices and changes in societal structure. Technology changes and improves the ways existing inputs produce more or higher quality outputs, and it includes new ways of organizing work and life.