Unit 1 Mid Point Quiz

A Garbage Truck driver is an example of which Factor of Production

• Labor

• Land

• Entrepreneurship

• Capital

Answer explanation

The Driver is Labor while the Truck is Capital

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1 Knowledge E1C

The Term "Factors of Production" means:

• how we spend our money

• how society creates jobs

• Things or skills neededto produce good or services

• the resources of the government

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1 Knowledge E1C

Which factor of production would you consider these Clippers as?

• Land
• Labor
• Capital
• Entrepreneur

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E1C

Which factor of production would you consider a cow?

• Land
• Labor
• Capital
• Entrepreneur

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1 Knowledge E1C

What resources are in the picture?

• natural, capital, and human resource

• natural and capital resource

• human and capital resource

• natural and human resource

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1 Knowledge E1C

What resource(s)are represented in this image?

• human and capital resource

• human resource

• capital resource

• natural resource

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1 Knowledge E1C

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 factories used in production of goods and services

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

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1 Knowledge E1C

Land 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.

Labor refers to...

• people with all their efforts and abilities

• 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.

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1 Knowledge E1C

Entrepreneurs are...

• people with all their efforts and abilities

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

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

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

Tags

1 Knowledge E1C