Of the following, which is an example of a labour resource?
LEAP test year 9 2023

Quiz
•
Social Studies
•
10th Grade
•
Easy

Glen Reid
Used 10+ times
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25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
a computer used by an accountant
a piece of timber used in the construction of a house
an oil well
the work of doctor in a hospital
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In Economics, the term ‘capital’ refers to:
money that invested by owners in a business.
the profits that are generated by a business.
items such as machinery which are used to produce goods and services.
the money lent by banks to businesses.
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The opportunity cost of building a new library is the:
cost of building the skate park now as opposed to building the library later.
next best alternative goods or services that must be given up to build the library.
monetary cost of the new library.
cost of supervising library activities.
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The following is either production, income or expenditure.
Zaynab buys a pie from the canteen
Production
Income
Expenditure
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
True or false:
Wants are what we need to survive.
True
False
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following would not be considered an economic resource?
money
a coal mine
a tyre factory
factory worker
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the cause of the basic economic problem?
wage levels are too low
low prices create too much demand for limited goods and services
resources are used inefficiently
needs and wants are unlimited but resources are scarce
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