It is generally observed that in relatively poor countries, firms use more labor and less capital to produce the same go
Posted: Sun May 29, 2022 6:54 pm
It is generally observed that in relatively poor countries,
firms use more labor and less capital to produce the same goods as
are produced with a small amount of labor and much capital in
richer countries. Are the firms in poor countries inefficient?
Discuss in terms of both technological and economic efficiency.
firms use more labor and less capital to produce the same goods as
are produced with a small amount of labor and much capital in
richer countries. Are the firms in poor countries inefficient?
Discuss in terms of both technological and economic efficiency.