
FACTORS OF PRODUCTION (Land, Labour, Capital, Entrepreneur)

Quiz
•
Other, Science, Education
•
10th - 12th Grade
•
Medium
VICTORIA ABIOLA
Used 4+ times
FREE Resource
17 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Land is often different from other factors of production because it _______
Has different grades
Is a free gift of nature
Is owned by the government
It is owned by individuals
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Land is the most significant factor in terms of contribution to the economy because ________
It enables us to build industries
All our highways are constructed on it
We get a lot of fishes from it
Vital resources from it enrich the economy
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The reward to land as a factor of production is _________
Profit
Rent
Interest
Wage
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following could be used to measure the efficiency of labour?
Rate of inflation
Education and training
Level of employment
Input-output ratio
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Rent and interest are rewards to _______
Land and capital respectively
Labour and capital respectively
Labour and land respectively
Capital only
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following factors of production consist of man-made goods?
Land
Labour
Capital
Entrepreneur
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The reward for labour is _______
Wades and salary
Profit / Loss
Rent
Dividend
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