Factors of production

Factors of production

Multiple Choice

Land includes...

• The "gifts of nature" or natural resources not created by human effort.

• people with all their efforts and abilities

• the tools, equipment, and factories used in production of goods and services

• individuals who start a new business or bring a product to market.

Multiple Choice

Reward for land is?

• Salaries

• Commissions

• Rent

• Profit

Multiple Choice

Which of the following is not a reward for labour?

• Wages

• Salaries

• Commissions

• rent

Multiple Choice

Reward for enterprise is

• Rent

• Interest

• Salary

• Profit

Multiple Choice

Which option is not an example of capital as a resource?

• Computers

• Factory

• Machinery

• Natural resources

Multiple Choice

Which event is most likely to cause an increase in the average wage of labour?

• A decrease in the national minimum wage

• An increase in the national minimum wage

• Government tax policies

• Net migration of labour into the country

Open Ended

What are the various causes of changes in the quantity and quality of factors of production?

Open Ended

How does geographical mobility of factor resources differ from occupational mobility?

Multiple Choice

Reward for enterprise is

• Rent

• Interest

• Salary

• Profit