
Factors of Production
Authored by Maya Kharishma
Business
11th Grade
Used 6+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the factors of production?
Natural resources that are available for production
Another term for resources in an economy
What are required in the future to produce goods and services
The human resources used in the production of goods and services
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is an example of land as a factor of production?
an airline pilot
an airfield
an aeroplane
aircraft fuel
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The factor of production capital means:
What is combined with land and labour to produce goods and services
the value of assets owned by a firm
money needed to set up a firm
money provided by shareholder to expand production in a firm
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is the best explanation of how an economist dscribes an entrepreneur?
someone who si lucky and makes a lot of mnoney
someone who suceeds in some but not all business activity
someone who is in charge of a firm
someone who seeks out business opprotunities and is willing to take risks
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Human capital is often referred to as a form of investment. Why is this?
Labour is required to produce all goods and services
Improved human capital can lead to increased economic growth
Human capital is costly like any investment
Top earners are able to invest some of their earnings
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is 'a produced means of further production'?
capital
enterprise
labour
land
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which factor of production is needed firts in order to set up a new business?
capital
enterprise
labour
land
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