Question

Developed nations tend to have: question 28 options: limited labor supplies but lots of capital. low capital-to-labor ratios. limited amounts of both labor and capital. large amounts of both labor and capital.

Answer 1

Developed nations tend to have LIMITED LABOUR SUPPLIES BUT LOTS OF CAPITAL. There are two major types of labour; skilled and unskilled labour. Developed nations of the world generally have low supply of labour which are needed to carry out the required activities in the economy, but they usually have huge capital, that is why people from less developed nations migrate into these countries.