Asked by David Tovar on Jul 23, 2024
Verified
Technology is considered to be a form of capital.
Form of Capital
Various types of economic resources used by businesses to fund and operate their activities, including financial, social, or physical assets.
Technology
The use of scientific understanding to achieve practical goals, particularly within industrial sectors.
- Gain an understanding of how technology and capital interact and function as production elements.
Verified Answer
NK
napapha kitkulananta-akeJul 27, 2024
Final Answer :
True
Explanation :
Technology is considered a form of capital because it can enhance the productivity of labor and physical capital, leading to the creation of more goods and services. This is often referred to as intellectual or knowledge capital.
Learning Objectives
- Gain an understanding of how technology and capital interact and function as production elements.