What is capital-intensive production:
Capital-intensive production is when businesses use more machines and equipment than human labour to make goods or services. It relies heavily on technology and tools instead of people.
What is labour-intensive production:
Labour-intensive production is when businesses rely more on human workers than machines to produce goods or services. It uses a lot of manual work and is common in industries like farming, textiles, and construction.
Capital-intensive production Advantages:
High production speed and efficiency
Lower long-term labour costs
Better quality control and consistency
Capital-intensive production Disadvantages:
Expensive to set up and maintain.
Fewer jobs created.
Can’t easily adapt to custom or small orders.
Labour-intensive production advantages:
Helps reduce unemployment.
Workers can adapt to different tasks.
Cheaper to start than buying machines.
Labour-intensive production disadvantages:
Less efficient than machines.
More chances of mistakes.
Wages and training can add up.
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