Answered

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What term refers to the use of scientific knowledge in practical areas such as industry?
a. mass production
b. factory
c. technology
d. raw materials

Sagot :

GinnyAnswer

Final answer:

Technology in production involves optimizing input combinations for cost-effective output.


Explanation:

Technology refers to all alternative methods of combining inputs to produce outputs in a production technology. It involves finding ways to produce the desired output at the lowest cost, leading to higher profits. Firms make choices on labor, capital, and technology combinations for efficient production.


Learn more about Technology in Production here:

https://brainly.com/question/40564971


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