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F3-T2-2022-FACTORS OF PRODUCTION

Authored by Annisha Mohammed

Business

8th Grade

Used 3+ times

F3-T2-2022-FACTORS OF PRODUCTION
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16 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What are the four factors of production?

Land, Capital, Need & Wants

Land, Labor, Capital, Entrepreneurs

Water, Air, Food & Shelter

Land, Capital, Goods & Services

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Natural Resources or Land as a factor of production includes...

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

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

people with all their efforts and abilities

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

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Capital refers to...

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

people with all their efforts and abilities

the tools, equipment, and money used in production of goods and services

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

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Labor refers to...

people with all their efforts and abilities used to produce

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

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

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

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Entrepreneurs are...

people with all their efforts and abilities

individuals who start a new business by organising all the other factors of production.

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

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

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Forests are examples of...

Natural Resources/Land

Labor

Entrepreneurs

Capital

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A bulldozer is an example of...

Natural Resources

Labor

Entrepreneurs

Capital

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