Factors of Production/Sectors of Industry

Select the skills/qualities of an entrepreneur

• Communication

• Risk Taker

• Has a University degree

• Decision-making

Answer explanation

Having a University degree is not a requirement of being an entrepreneur.

The factors of production are...

Which factor of production refers to the workforce involved with producing a product/providing a service?

• Land

• Labour

• Capital

• Enterprise

Which factor refers to man-made goods involved with producing products/providing a service?

• Land

• Labour

• Capital

• Enterprise

Which factor refers to the idea that an entrepreneur had to combine the other 3 factors?

• Land

• Labour

• Capital

• Enterprise

Which factor of production refers to the natural resources of the world?

• Land

• Labour

• Capital

• Enterprise

An example of land would be

• Water

• Machinery

• Clothing dye

• Money

An example of capital is

• Money

• Cotton

• Fish

• Wool

An example of labour would be

• Potatoes

• Delivery trucks

• Coal

• Factory workers

An example of enterprise would be

• Shop workers

• Delivery drivers

• Elon Musk

• Water