The capitalist revolution/technology, population and growth (unit 1+2)

Question 1

technology

Answer 1

a process that uses a set of inputs,
including materials, machinery, and labour, to
produce an output.

Question 2

isocost line

Answer 2

all possible combinations of two inputs that a firm can purchase given a specific budget and input prices

Question 3

dominating technologies

Answer 3

A technology dominates another
technology if it requires less of at least
one input, and no more of any input

Question 4

what motivated technological innovation?

Answer 4

high wages relative to capital motivated technological innovation