4th Production

Production

Productivity

Factors of Production

Multiple Choice

What does productivity mean?

• productivity is how products are made

• productivity measures efficiency

• productivity is a measure of how many workers a business has

• productivity measures effectiveness

Multiple Choice

In a hair salon, which of these is an example of output?

• The building the hair salon is in.

• The EFTPOS machine.

• The number of hair services sold.

• Texts sent out to customers with a special birthday offer.

Multiple Choice

Which of these isn't a method of improving productivity?

• employing more staff

• providing pay incentives

• investing in up-to-date machinery

• training staff

Multiple Choice

Which one of the following will have the effect of reducing the supply of labour?

• a high birth rate

• a large population

• a high proportion of old people

• a low proportion of very young people

Multiple Choice

Automation in industry can result in:

• increased need for tertiary services

• employment of a larger workforce

• a more skilled workforce

• increased production costs

Multiple Choice

WHAT ARE THE 4 FACTORS OF PRODUCTION?

• Land, Capital, Need & Want

• Land, Labor, Capital, Entrepreneurs

• Water, Air, Food & Shelter

• Land, Capital, Good & Service

Multiple Choice

Which of the following is not a factor of production?

• natural resource

• human resource

• food

• enterprise

Multiple Choice

Which one of the following is the most appropriate description of entrepreneurs?

• the factors of production

• the consumers of goods

• the government

• the owners of business enterprise

Multiple Choice

The labour force of a country is:

• all people below retirement age

• all persons who are employed or are available for work

• the total population

• all persons over the school leaving age

Multiple Choice

Fixed capital includes:

• buildings

• stocks

• bank balance

• stationery