Alexandra owns a small landscaping business. she hires a part-time employee to handle the bookkeeping activities. which factor of production does this employee represent? a. physical resources b. capital c. labor d. entrepreneurs e. information resources

The correct answer is C, Labor.

Explanation:

In this example the employee represents the Labor factor of production. Labor is the force consist of people who uses the other resources to make the things done. So Alexandra hired a part time employee who handles the book keeping activities of the company, that means he is putting his mental and physical efforts to keep the records. So he falls in the Labor category of the Factors of Production.

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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