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 1 year ago

Define and describe the concept of a surety. In your response define and describe the concept...

Define and describe the concept of a surety. In your response define and describe the concept of an insurable interest and the factor of risk as it applies to insurance.

Explain the concept of “technology convergence.”

Define the entity concept and the historical cost concept of financial accounting.

Define health technology policy. What are some key terms in health information technology? List and define...

Define health technology policy. What are some key terms in health information technology? List and define two What organizations safeguard health policies? List at least two organizations and a policy they safeguard. Provide a brief description of the U.S. Food Drug Administration’s (FDA’s) role in health policy.

Define the concept of elasticity of labour market

Define and explain the psychology concept of personality

The African ethical concept of Ubuntu. Define and explain this concept as it relates to how...

The African ethical concept of Ubuntu. Define and explain this concept as it relates to how ideas about social justice can influence life choices on a micro level, as well as culturally on a macro level.

Define the six factors that determine the nominal interest rate on a security. Define the concept...

Define the six factors that determine the nominal interest rate on a security. Define the concept of term structure of interest rates. What are three theories that explain the future yield curve of interest rates?

Describe the concept of convergence and how it relates to technology and e-commerce.

Sitcom Technology Case Case Study: Cost Concept and Cost Sheet Sitcom Technology was founded by two...

Sitcom Technology Case Case Study: Cost Concept and Cost Sheet Sitcom Technology was founded by two IIT graduates Rehan and Nixit in the year 2016 with the objective of providing IT solutions to various companies. They launched their FinTech start-up after getting funded Rs 25,00,000 by Business Ventures, one of the FinTech Angel investors. This was in the form of a loan at a 12% rate of interest. Rehan utilized his unused two bedrooms flat in Bannerghatta, Karnataka worth Rs...

Question