The way in which an economy's resources are converted to output is part of the _______________ environment.
A) competitive
B) economic
C) political
D) technological
E) social

Question

Quizplus · Accepted Answer

The way in which an economy's resources are converted to output is related to the use of technology, such as machines, tools, and software. The technological environment refers to the knowledge, techniques, and processes used to produce goods and services. Therefore, option D, technological, is the correct answer. The other options are also important factors that can influence the economy, but they are not directly linked to the process of converting resources into output.

The Way in Which an Economy's Resources Are Converted to Output