Technology is the making, usage, and knowledge of tools, machines, techniques, crafts, systems or methods of organization in order to solve a problem or perform a specific function.
It is also the application of science (the combination of the scientific method and material) to meet an objective or solve a problem.
It can also refer to the collection of such tools, machinery, and procedures.
The discipline dealing with the art or science of applying scientific knowledge to practical problems
Factors of production are the resources required for generation of goods or services, generally classified into four major groups: (1) Land (including all natural resources), (2) Labor (including all human resources), (3) Capital (including all man-made resources), and (4) Enterprise (which brings all the previous resources together for production).
In essence, land, labor, capital and entrepreneurship encompass all of the inputs needed to produce a good or service. Land represents all natural resources, such as timber and gold, used in the production of a good. Labor is all of the work that laborers and workers perform at all levels of an organization, except for the entrepreneur. The entrepreneur is the individual who takes an idea and attempts to make an economic profit from it by combining all other factors of production. The entrepreneur also takes on all of the risks and rewards of the business. The capital is all of the tools and machinery used to produce a good or service.
Impact of technology on factors
Of prod(land labor capital nd enterprise)
Technology has affected society and... [continues]
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