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Labour absorbing technology is given up …

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Labour absorbing technology is given up in prefrence to capital intensive technology. State its economic value in the context of production possibility frontier for the domestic economy.

Posted by Babita Sharma 6 years, 11 months ago

CBSE > Class 12 > Economics

1 answers

Madan Batra 6 years, 11 months ago

This is related to how to produce in which there are two techniques of production 1. labour intensive technique 2. capital intensive technique 1. More labour is used 2. more capital is used. Labour intensive tech. is given more prefrence because it provide employment opportunities ( as unemployment is the biggest issue in our countery) and in context of PPC if we are suffering in unemployment means that we are somewhere inside the ppc and due to prefrence is given to labour intensive technique there will be employment generation and we move towards the ppc.

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