Question

The 'choice of technique' depends on what factors

Answer 1

The choice of technique is an area of economics and it depends on capital and labor intensity of the methods used to produce a product. but in traditional development economics it was based on what type of goods should be produced and also the scale of operation was decided.

Answer 2

The choice of technique in economics depends on the availability of resources, or on the alternate on the wage rental ratios. The choices also alter depending upon the amount of capital available. As the choice of technique is very important in building the country and for its development.