A business entity that hires labor and capital to produce a product is known as a(n)
A) employee
B) firm
C) resource

Question

Quizplus · Accepted Answer

A firm is a business organization that hires labor and capital to produce goods or services. While an employee is an individual who is hired to work for a firm, and a resource refers to any factor of production used in the production of goods or services, such as land, labor, or capital.

A Business Entity That Hires Labor and Capital to Produce