A firm’s ________ resources are also known as labor.Multiple Choicehumaneconomicintangiblefinancialnatural
Question
A firm’s ________ resources are also known as labor.
Multiple Choice
- human
- economic
- intangible
- financial
- natural
Solution
The correct answer is human resources.
Explanation
Human resources refer to the individuals who make up the workforce of an organization, encompassing all employees from entry-level to management. This term includes not only the workers themselves but also the skills, knowledge, and experience they bring to the job. Human resources are crucial for a firm's operations because they directly impact productivity, innovation, and the overall culture of the workplace. In contrast, economic resources pertain to the monetary aspects of a firm, while intangible resources might include brand reputation and intellectual property. Financial resources involve the capital a firm can use, and natural resources refer to the raw materials sourced from the environment. Thus, in this context, human resources are specifically related to labor.
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