GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Labor intensive refers to a process or industry that requires a large amount of labor to produce its goods or services.
Detailed explanation-2: -Labour intensive refers to a production process where labour costs are the largest component. Labour intensive implies that capital (machines/factories) are a small percentage of the final cost. Labour intensity is the percentage of labour which is used in the production process.
Detailed explanation-3: -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.
Detailed explanation-4: -The second factor of production is labor. Labor is the effort that people contribute to the production of goods and services. Labor resources include the work done by the waiter who brings your food at a local restaurant as well as the engineer who designed the bus that transports you to school.