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Introduction of Micro-Economics — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsIntroduction of Micro-Economics2 Marks
Question
Explain the problem of "how to produce".
✓

Answer

It is the problem relating to the choice of technique of production. Which technique should be used in production-whether labour intensive or capital intensive.Labour intensive technique uses more of labour as compared to capital while capital intensive technique uses more of capital as compared to labour.

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