Question

what is difference between labour intensive and capital intensive technique of production

Answer 1

Capital intensive and labor intensive refer to types of production methods used in the production of goods and services. Whether an industry or firm is capital or labor intensive depends on the ratio of capital vs. labor required in the production of goods and services. While capital intensive is more expensive and requires a higher capital investment, labor intensive production requires more labor input and requires higher investment in training and education of employees.

Answer 2

Answer:

Capital intensive production requires more equipment and machinery toproduce goods; therefore, require a larger financial investment. Labor intensive refers to production that requires a higher labor input to carry out production activities incomparison to the amount of capitalrequired.