Graph 2-1 
-Refer to Graph 2-1.In the graph shown, points A, B and D represent efficient outcomes for society.
Definitions:
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.
Production Technology
The methods, equipment, and processes used to produce goods and services.
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