Define technology and the concept of technology.

Expert Solution

Technology can be defined as the branch of scientific knowledge used for practical purposes in firms and all other types of industries.
The concept of technology includes the involvement of skills, technique's and tools which has contributed to its growth.
Technology has always been an interesting topic in every industry and it seems to be never ending as the researchers are keen in learning more about it as it acts as a basic for improving past and creating future.
Important concepts under technology are :-

Tools and technology :- without proper tools and machineries technology improvements becomes an impossible task.
Skills and technology :- people's skill and experience has made it possible for improving technology over generations.
Information and technology :- information provides knowledge and understanding required in creating technology.
Capital and time :- the capital and time are the two most important concepts under technology, enough capital helps in the development of technology financially and having enough time allows development of better technology.

Rahul Sunny answered 2 years ago

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