GBE S9

According to Penguin Dictionary of Economics, the sum of knowledge of the means and methods of producing goods and services is ...

• Technology

• Labor

• Capital

• Innovation

Technological change leads to ...

• Introduction of new products/services

• Changes in the quality of resources and products

• New ways of distributing the product

• Changes in the methods and organisation of production

What can be considered as Technology from the options given below?

• 
• 
• 
• 

... is the development of new products, which will have far-reaching effects on business.

• Stagnation
• Imitation
• Obsolescence
• Product Innovation

... refers to changes that take place in the production process, such as the introduction of assembly-line production in the manufacture of cars.

• Process innovation

• Quality control

• Manufacturing strategy

• Production efficiency

According to Harvard Business School, a product, service, business model, or strategy that's both novel and useful is referred as ...

• Innovation

• Creativity

• Imitation

• Invention

... is an exclusive right granted for an invention.

• Trademark
• Copyright
• Patent
• Trade secret

What are the metrics indicating the technological status of a country?

• Research and Development (R&D) Expenditure

• Number of Patents Filed

• High-Tech Exports

• Innovation Index

• Number of Startups and Tech Firms

The efforts a company devotes to the innovation, and improvement of its products and processes is called ...

• Quality Assurance
• Supply Chain Management
• Research and Development (R&D)
• Product Marketing

The loss of jobs caused by technological change is referred as ...

• Automation displacement

• Job market fluctuation

• Economic restructuring

• Technological unemployment