Factors of Production

Factors of Production

Multiple Select

Click on the 4 Factors of Production

• Services

• Capital

• Natural Resources

• People doing things

• People starting businesses

Multiple Choice

An example of "Land" as a Factor of Production is:

• A farmer's tractor

• Oil

• A piece of equipment used to create something.

• Mining equipment

Multiple Choice

Some economists list a 5th factor of production. That is usually referred to as:

• Entrepreneurship

• Sales

• Production

• Technology

Multiple Choice

Capital is referred to as: tools, machinery, or money used to make other finished products

• .True

• False

Multiple Choice

An example of Entrenprneurship in today's economy would be which of the following individuals? (Check all that apply)

• Elon Musk

• Jeff Bezos

• Steve Jobs

• Bill Gates

Multiple Select

Capital consists of:

• equipment

• land

• buildings

• money

Multiple Choice

The risk-taking resource is considered:

• Land

• Labor

• Capital

• Entrepreneurship

Multiple Choice

Any use of land, labor, and capital that produces goods and services more efficiently is called:

• Entrepreneurship

• Capital

• Technology

• Labor

Multiple Choice

Under a capitalistic society, private individuals and corporations own the capital used to produce goods and services.

• True

• False