Question

Over the next few years, employers may face a severe labor shortage because ________. Group of answer choices there are fewer people entering the workforce than there are retiring baby boomers one-third of single mothers are not employed in the U.S. labor force there are too many nontraditional workers holding multiple jobs older employees are more family-centric than younger employees

Answer 1

Answer:

there are fewer people entering the workforce than there are retiring baby boomers.

Explanation:

Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.

The four factors of production are;

I. Land: this refers to the natural resources and raw materials extracted from the ground or grown in the soil e.g oil, gold, rubber, cocoa, etc.

II. Labor (working): this is the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.

III. Capital resources: it includes the physical assets used for production of goods and services such as equipment, money, plant, etc.

IV. Entrepreneurship: it is intellectual capacity required to drive a business and the skills to develop an idea into a money making venture (business).

Over the next few years, employers may face a severe labor shortage because there are fewer people entering the workforce than there are retiring baby boomers.

This ultimately implies that, the number of people who are currently in the workforce is higher than the number of people that are being employed newly and as such keeping the labor force redundant.