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Answer :
Final answer:
A capital abundant economy is one where there is a higher level of capital per worker, while a labor abundant economy is characterized by a lower level of capital per worker.
Explanation:
A capital abundant economy is one where there is a higher level of capital per worker. This means that the economy has a significant amount of physical capital, such as machinery, equipment, and infrastructure, relative to the number of workers. In a capital abundant economy, production processes often require a high level of capital investment.
On the other hand, a labor abundant economy is characterized by a lower level of capital per worker. In such an economy, there is a relatively larger workforce compared to the amount of physical capital available. Production processes in a labor abundant economy typically require a low level of capital investment and rely more on labor-intensive methods.
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