The production operations of any business combine two factor inputs:
The relatively importance of labour and capital to a specific business can be described broadly in terms of their "intensity" (or to put it another way, significance).
Sounds simple! Some examples will help reinforce the point:
The main features of each category can also be summarised as follows:
Labour intensive operations
Capital intensive operations
Join the tutor2u Business team for a resource-packed day designed to fast-track your lesson planning and preparation for the new Edexcel A Level Business specification. We'll look at the key changes in teaching content, explore the new challenges of teaching this linear specification and dive into some brand new teaching resources designed specifically for the new Edexcel A Level Business course from September 2015.
This resource comprises a complete collection of editable PowerPoint presentations that are ideal for teaching individual topics for the whole Year 1 (AS) teaching content. Each presentation has a consistent, clear and professional format and maps precisely to the specification teaching content.