What is the term for using more capital than tabor in the production process? ca

Question

What is the term for using more capital than tabor in the production process? capital intensive capital labor intensive labor production ratio indicate whether the statement pressured is true of false. the north amen can free trade agreement reclaimed the old given on and table true false indicate whether the statement pressured is true of false. the north amen can free trade agreement reclaimed the old given on and table true false indicate whether the statement pressured is true of false. the north amen can free trade agreement reclaimed the old given on and table true false indicate whether the statement pressured is true of false. the north amen can free trade agreement reclaimed the old given on and table true false

Explanation / Answer

Solution for question 1

There are generally two type of resources use in production process, Labor and capital. The production process in which labor cost is more than capital cost like machinery, building is called labor intensive production process. When capital cost is more than labor cost then it is called capital intensive production process.

Hence, option (A) is correct answer.

Solution for question 2

There are so many trade agreement made between countries for better flow of goods and services. The motive behind trade agreement is to minimize the trade policies and make a standard policy for trade between countries. Time to time countries change their agreement according to need of trade and economic scenario.

North American Free Trade Agreement (NAFTA) is trade agreement made for free trade between North American countries. After making the NAFTA all traditional trade agreement has been removed.

So given statement is true.

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