Bell Work - Factor of Production

Iron, minerals, coal and plants are examples of which productive resource?

• land

• labor

• entrepreneurship

• capital

Which factor of production would you consider a lawn mower?

• Land

• Labor

• Capital

• Entrepreneur

The factories pictured above would be categorized as which factor of production?

• Land Resources

• A Labor Resource

• A Capital Resource

• They are not factors of production

Name the 4 factors of production.

• opportunity costs, natural resources, labor, scarcity

• trade off, natural resources, labor, scarcity

• natural resources, human resources, physical capital, entrepreneur

• natural resources, human capital, scarcity, trade off

The term "factors of production" means:

• things or skills needed to produce goods or services

• how we spend our money

• the resources of the government

• how society creates jobs