Question

Samantha needs to purchase something that economists would label as "labor" to help her produce court documents for her law firm. Which of the following is an example of labor?

A. Stenography machine to type courtroom proceedings.
B. The ability to see that organizing courtroom documents is an unfilled market need.
C. Filing cabinets to store the typed courtroom documents.
D. A stenographer who can type courtroom proceedings.

Answer 1

D) A stenographer who can type courtroom proceedings.

Step-by-step explanation:

There are four factor of production:

1. land: includes any raw materials and natural resources used to produce other goods
2. labor: human work involved in the production process. A stenographer is a human that works.
3. capital: physical tools and equipment involved in the production process
4. entrepreneurship: person that combines all the other 3 factors of production