Test Revision

What is the acronym we use to remember the FACTORS OF PRODUCTION?

• CDLL

• CELD

• CELL

Identify the factors of producton (4)

Capital refers to the natural resources which are used in production such as water, fish and coal.

• True

• False

Guess the question ...

Answer: Land refers to the natural resources used in production such as water, fish and coal.

• Identify the factors of production (1)

• Outline the factors of production (1)

• Describe the factors of production (1)

• Discuss the factors of production (1)

• Justify the factors of production (1)

The three SECTORS OF INDUSTRY are Primary, Secondary and _______?

The primary sector of industry is concerned with the extraction of raw materials or natural resources from the land.

• True

• False

The secondary sector of industry is concerned with providing a service to customers such as hairdressers and banks.

• True

• False

There are 4 sectors of ECONOMY.

• True

• False

What is the missing sector of economy? Private, Public, _________

• Non-Private

• Third

• Tertiary

A charity operates in the third sector of economy.

• True

• False