Which of the following is considered to be the best method of production?
A)Capital-intensive method
B)Least-cost method
C)Labor-intensive method
D)Scarce resource method

Question

Which of the following is considered to be the best method of production?
A)​Capital-intensive method
B)​Least-cost method
C)​Labor-intensive method
D)​Scarce resource method

Quizplus · Accepted Answer

The least-cost method is considered to be the best method of production because it focuses on minimizing costs while maximizing output. This can lead to increased efficiency and higher profits. Capital-intensive and labor-intensive methods have their own advantages and disadvantages depending on the circumstances, and the scarce resource method may not always be feasible or efficient.

Which of the Following Is Considered to Be the Best