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Labor Intensive |
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Labor Intensive Describing an industry or sector in which it is difficult to produce a good or service without a large amount of labor. Labor intensive industries require either a large amount of employees or a large amount of hours worked by employees ? or both ? in order to be successful. Labor intensity may be quantified by taking a ratio of the cost of labor (i.e. wages and salaries) as a proportion of the total capital cost of producing the good or service. The higher the ratio, the higher the labor intensity. Labor intensive industries may control costs in bad economies by laying off workers. Examples of labor intensive industries include agriculture, mining, and hospitality. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The first method relies on the use of estimated labor intensity of work on a prototype and per-unit costs on basic price structure components (material inputs, wages with deductions to social security programs, overheads, and the cost of subcontracting) at a possible contracting enterprise (or average costs at a group of enterprises). |
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