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Technology can be defined as knowledge or information which tell us how an end can be achieved by the employment of combinations of various means.[1] Or more simply technology consists of ideas on how to produce things.[2] Technology should be distinguished from the physical form, such a produced good, which embodies the technological idea.[2]


  1. Ludwig von Mises. "Human Action", 2010, page 208.
  2. 2.0 2.1 Shapiro, Milton. "Foundations of the Market-Price System", 2007, page 63-64.