Question

Amara has just started an entry-level job at a software company. The first two months will be spent in a training program to learn about the company’s software and to develop the skills needed for the job.

What factor of production does this scenario primarily describe?
Options =

A. land
B. labor
C. capital
D. entrepreneurship

Answer 1

Amara's training program at a software company pertains to the labor factor of production, which focuses on human effort in the production process. The correct option is B. labor.

Step-by-step explanation:

The scenario described of Amara beginning an entry-level job and engaging in a training program at a software company primarily relates to the labor factor of production. In economics, the factors of production include land, labor, capital, and entrepreneurship.

Amara's training emphasizes the development of skills and knowledge pertinent to the job, which enhances the quality of labor and fits squarely within the definition of labor as a factor of production, as it is the human effort that can be applied to the production of goods and services. Unlike capital, which refers to tools and machinery, or entrepreneurship, which involves the creation and management of business ventures, labor specifically denotes the human input into the productive process.