LeoGlossary: Technology

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LeoFinance
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A body of knowledge devoted to creating tools, processing actions, and the extracting of raw materials.

It is the result of accumulated knowledge and application of skills, methods, and processes used in industrial production and scientific research. Basically, it is human knowledge which involves tools, materials, and systems. Technology applied tends to result in new products.

The progress of many economies is often as a result of technology. We see the rise of the "leisure class" due to innovation enabling us to spend less time on acquiring the basics needed for sustenance.

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