Read the following article and select the best answer. Article: Technology is the application of knowledge to production. Thanks to modern technology, we have been able to increase greatly the efficiency of our work force. New machines and new methods have helped cut down time and expense while increasing overall output. This has meant more production and a higher standard of living. For most of us in America, modern technology is thought of as the reason why we can have cars and television sets. However, technology has also increased the amount of food available to us, by means of modern farming machinery and animal breeding techniques, and has made our life span longer via medical technology. Will mankind continue to live longer and have a higher quality of life? In large measure, the answer depends on technology and our ability to use it widely. If we keep making progress as we have over the past fifty years, the answer is definitely yes. The advancement of technology depends on research and development, and the latest surveys show that the united States is continuing to put billions of dollars annually into such efforts. So while we are running out of some limited resources, we may well find technological substitutes for many of them through our research programs. Therefore, in the final analysis, the three major factors of production (land, labor and capital) are all influenced by technology. When we need new skills or techniques in medicine, people will start developing new technology to meet those needs. As equipment proves to be slow or inefficient, new machines will be invented. Technology responds to our needs in helping us improve our standard of living. Question: What is the best title for the passage? - The definition of technology - Modern technology - The application of technology - The development of technology
A:
Modern technology