Q7. India is a labour abundance and capital scarce economy. Which tech

1.	Q7. India is a labour abundance and capital scarce economy. Which technique of production should be used to produce the commodity?
Answer» Answer: Indian labour laws are considered COMPLEX and restrictive. ... As a consequence of this, the labour to capital ratio is low DESPITE the fact that INDIA is a labour ABUNDANT and capital scarce country. Rigidities in the labour market have also ensured that the employment elasticity of Indian economy has REMAINED low.

Q7. India is a labour abundance and capital scarce economy. Which technique of production should be used to produce the commodity?

Answer»

Answer:

Indian labour laws are considered COMPLEX and restrictive. ... As a consequence of this, the labour to capital ratio is low DESPITE the fact that INDIA is a labour ABUNDANT and capital scarce country. Rigidities in the labour market have also ensured that the employment elasticity of Indian economy has REMAINED low.

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Q7. India is a labour abundance and capital scarce economy. Which technique of production should be used to produce the commodity?

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