Production That Uses a Relatively Low Level of Capital Per

question 164

Multiple Choice

Production that uses a relatively low level of capital per worker is called

• A)labor abundant.
• B)capital abundant.
• C)labor intensive.
• D)capital intensive.
• E)capital deepened.

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Definitions:

Incentive

An incentive is a motivational factor or reward that encourages people to perform an action or adopt a behavior.

Room And Board

A combination of housing (room) and meals (board) typically provided as part of compensation or in a collegiate setting.

Scarce Resources

Natural, human, and man-made inputs that have limited availability and are used for the production of goods and services.

Efficiency

The optimal use of resources to achieve the desired outcome with minimum waste or effort.