what do you mean by labour intensive technique and capital intensive technique? why are they used in an economy . which type of technology Is used in India . explain ?
Answers
Answer:
Explanation:
In simple words labour intensive technique is that which uses comparatively larger amount of labour and small doses of capital. It is that technique by which more of labour and less of capital is required for the process of production.
Capital intensive technique refers to that technique in which larger amount of capital is comparatively used. In such a technique the amount of capital used per unit of output is larger than what it is in case of labour intensive technique.
In India, capital intensive technique is used
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Answer:
Difference Between Labour Intensive and Capital Intensive 1 Capital intensive and labor intensive refer to types of production methods followed in the production of goods and services. 2 Capital intensive production requires more equipment and machinery to produce goods; therefore, require a larger financial investment. 3 Labor intensive refers to production that requires a higher labor input to carry out production activities in comparison to the amount of capital required.
Explanation:
i think its both labour and capital intensive