What Does the Use of Large Amounts of Labour Relative

question 8

Multiple Choice

What does the use of large amounts of labour relative to capital in an economy indicate?

• A) that labour wage rates will be relatively high
• B) that production is capital intensive
• C) that production is labour intensive
• D) that hand-made goods are of better quality than machine-made goods

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Definitions:

Debits and Credits

The fundamental elements of accounting that represent the entries made in accounts to reflect increases or decreases in balances.

Memorized Transactions

Transactions that are saved in the accounting system for future use, allowing for quick recording of recurring expenses, invoices, or payments.

Saved Transactions

Transactions that have been recorded and stored in a financial system for future reference or use.

Vendors and Expenses

Categories within accounting that track and manage the costs incurred from purchasing goods or services from suppliers.