CSEC POB - Section 5 - Production

Front

Which of the following is a primary need? money, transport, land, food

Back

food

Front

Which of the following is not a factor of production? food, land, labour, capital

Back

food

Front

In a subsistence economy the main source of production is: exports, manufacturing, agriculture, mining

Back

agriculture

Front

Which of the following is a diseconomy of scale? extensive advertising is practicable , labour-saving machinery can be used, more capital is available, lines of communication can become complex

Back

lines of communication can become complex

Front

Fixed capital includes: buildings, stocks, bank balance, stationery

Back

buildings

Front

The Law of Diminishing Returns states that with additions to labour:

Back

marginal output falls

Front

The labour force of a country is:

Back

all persons who are employed or are available for work

Front

Automation in industry can result in: increased need for tertiary services, employment of a larger workforce, a more skilled workforce, increased production costs

Back

increased production costs

Front

WHAT ARE THE 4 FACTORS OF PRODUCTION?

Back

Land, Labour, Capital, Entrepreneurship

Front

WHAT IS LABOUR?

Back

work people do for pay to produce good and services