Examlex
Which of the following statements is NOT true?
Production Technology
This term refers to the methods and processes used to create goods and services, incorporating tools, machinery, techniques, and knowledge.
Labor Intensive
Describing industries or processes that require a large amount of labor to produce goods or services, often associated with higher employment but lower capital investment.
Alternative Technologies
Refers to the different methods, tools, or systems that can be used as substitutes to achieve the same goal or perform the same function in a process.
Hourly Price
The cost associated with purchasing a good or service for each hour it is used or consumed.
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