The chain of production

Which of these is NOT part of the chain of production.

• land

• labour

• entrepreneur

• Enterprise

______ is the place or space where a business is located.

• Labour

• Land

• Capital

• Enterprise

__________ is any of the physical or mental work involved in making a product.

• Land

• Labour

• Enterprise

• Capital

___________ is the money used to make a good or service.

• Land

• Labour

• Capital

• Enterprise

____________ is the action of combining the other three factors of production to make a product

• Land

• labour

• Capital

• Enterprise

_________________________ are things we get from nature, such as water, trees, land and oil.

• Natural resources

• Capital

• Entrepreneur

• Enterprise

An ___________________ is a person who has an idea for a business and brings the factors of production together to make a product.

• Enterprise

• Entrepreneur

• Capital

• Natural resources

Which of the following best describes a major part of the economic problem.

• People have limited wants.

• People have unlimited wants

• People can limit their wants

• People want their limits

The economic problem is that there are not enough resources to make enough products to satisfy people’s wants.

• True

• False

Which of the following best describes a trade-off.

• A trade-off is something you don't want

• A trade-off is what you give up when you make a choice.

• A trade -off is what you get when you want something too much