If a Good Is Labor Intensive It Means That the Good

question 29

Multiple Choice

If a good is labor intensive it means that the good is produced

• A) using relatively more labor than goods that are not labor intensive.
• B) using labor as the only input.
• C) using more labor per unit of output than goods that are not labor intensive.
• D) using labor such that the total cost of labor is greater than the total cost of capital.
• E) using labor such that the cost of labor is more than 50% of total cost.

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Definitions:

Accidentally

Refers to an event or occurrence that happens without intention or planning.

Tort Law

The area of law that deals with civil wrongs and damages, not arising from contractual obligations, to person, property, or reputation.

Punish

involves imposing a penalty or sanction on someone as a consequence of their wrongdoing.

Constitutional Privilege

A right or immunity granted under a constitution, protecting individuals or entities from certain legal processes or obligations.