
Chapter 1
Authored by Fish Kill
Education
9th - 12th Grade
Used 1+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is not one of the four factor of production?
Labour
Land
Entrepreneur
Capital
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes the economic problem?
Limited wants and unlimited resources
Increase in businesses and decrease in investments
Finite resources and infinite wants
Scarcity due to an increase in the factors of production
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following are capital used by an ice cream making firm?
Production engineers
Car assembly machine
Ingredient mixer
Vanilla extract
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What can cause the improvement in quality of the factors of production
Increase in immigration
Decrease in the death rate
Discovery of new ore mines
Investments in education
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which factor of production is the least geographically mobile
Land
Labour
Capital
Enterprise
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the opportunity cost of an individual starting their own business?
Profits from the business
Increased spending power
Salary from working an ordinary job
Decrease in expenses
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following can cause the Production Possibility Curve (PPC) to shift outwards?
Increase in income tax
Depletion of natural resources
Increase in immigration
Reduction in government spending
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