Home » Economics » Economics miscellaneous » Question

Economics miscellaneous

  1. Labour Intensive Technique would get chosen in a
    1. Labour Surplus Economy
    2. Capital Surplus Economy
    3. Developed Economy
    4. Developing Economy
Correct Option: A

‘Labour’ refers to the people required to carry out a process in a business. Labour-intensive processes are those that require a relatively high level of labour compared to capital investment. These processes are more likely to be used to produce individual or personalised products, or to produce on a small scale. The costs of labour are: wages and other benefits, recruitment, training and so on. Labour intensive processes are more likely to be seen in Job production and in smaller-scale enterprises.



Your comments will be displayed only after manual approval.