Question : The technique used where more of labour are used to produce goods and services.
Option 1: Labour-intensive
Option 2: Capital-intensive
Option 3: Both A and B
Option 4: None of the above.
Correct Answer: Labour-intensive
Solution : Labour-intensive techniques of production involves where more of labour are used to produce goods and services. Hence Option A is correct.
Question : The technique used where more of capital are used to produce goods and services.
Question : It involves deciding the technique of production to be used to produce goods and services?
Question : It involves deciding the final combination of goods and services to be produced. Which economic problem is highlighted here?
Question : It involves selection of the category of people who will ultimately consume the goods.
Question : It refers to those industries which can produce machine tools and used for producing articles for current consumption.
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