Jose opens a small graphic design firm in his hometown. As his business grows, he is fortunate to have a steady client base and a great location in the downtown business district. However, he is concerned that his current staff has run out of great ideas. John advertises for a new graphic designer with experience in the industry and a high degree of creativity. John is acquiring which factor of production

Question

Business

Emery Watts

30 June, 08:34

Jose opens a small graphic design firm in his hometown. As his business grows, he is fortunate to have a steady client base and a great location in the downtown business district. However, he is concerned that his current staff has run out of great ideas. John advertises for a new graphic designer with experience in the industry and a high degree of creativity. John is acquiring which factor of production

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Answers (1)

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Elisa Anthony · Answer 1

Labor

Explanation:

Labor is the effort that people contribute to the production of goods and services.

If anyone has ever been paid for a job, that person has contributed labor resources to the production of goods or services, and the income earned by labor resources is called wages and is the largest source of income for most people.

Labor can also be defined as the effort expended by an individual to bring a product or service to the market.