Final answer:
The individual AMR Company seeks to hire for product creation represents an entrepreneur, a factor of production who combines resources to innovate and meet consumer demands. This role is characterized by risk-taking, creativity, and driving economic evolution.
Step-by-step explanation:
The person AMR Company plans to hire for creating new products is an example of an entrepreneur. The entrepreneur is a key factor of production in economics, who combines the other factors of production — land, labor, and capital — to create new products or services. This individual is a risk-taker and introduces innovation into the market, ultimately driving economic growth and evolution, responding to consumer demand. Moreover, the concept of labor can be split into two forms, one being the innate abilities someone brings to a job (basic labor), and the other being human capital. Human capital refers to the skills that a worker acquires through education, training, or experience which can be used for production. Those acquiring education like college students, or experience like workers in training, are all building their human capital.
In the context of economics, the resource must have been produced and should be able to produce other goods and services. The entrepreneur, while not a 'produced' resource like physical capital, fulfills the second criterion as they help to generate goods and services through their innovation and management of the other factors of production.