Briefly explain the following terms. Production =
Labour intensive =
& Capital intensive =​

Explanation:

1.Production is a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (output). It is the act of creating an output, a good or service which has value and contributes to the utility of individuals.

2 . Labour intensive =The term "labor-intensive" refers to a process or industry that requires a large amount of labor to produce its goods or services.

3.Capital intensive =

The term "capital intensive" refers to business processes or industries that require large amounts of investment to produce a good or service and thus have a high percentage of fixed assets, such as property, plant, and equipment

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