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:

Fearful

Experiencing fear; feeling apprehensive or anxious.

Resentment

A feeling of bitterness or indignation experienced as a result of unfair treatment or perceived injustice.

Consequences

The outcomes or effects that result from a particular action or set of conditions.

Punishment

The imposition of a penalty as retribution for an offense, with the intention of discouraging undesirable behavior.