The Use of Large Amounts of Labor Relative to Capital

question 16

Multiple Choice

The use of large amounts of labor relative to capital in an economy indicates:

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

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Definitions:

Intermediaries

Entities that act as a middleman between two parties in a financial transaction, such as brokers, agents, and dealers.

Banks

Financial institutions licensed to receive deposits and make loans, offering various other services like wealth management, currency exchange, and safe deposit boxes.

Transactions

In computing and databases, a series of operations performed as a single logical unit of work, often required to be atomic, consistent, isolated, and durable (ACID).

Capillaries

The smallest blood vessels in the body's circulatory system, connecting arterioles and venules, where gas, nutrient, and waste exchange occur.