Service often requires a higher labour content,whereas the production of goods is more capital intensive.

Question

Quizplus · Accepted Answer

Service industries typically require a higher level of labour input because they rely on human interaction and personal attention to meet the needs of customers. In contrast, the production of goods can be more automated and capital intensive, relying on machinery and technology to produce large quantities of standardized products.

Service Often Requires a Higher Labour Content,whereas the Production of Goods