Factors of Production Quiz

Factors of Production Quiz

10th Grade

14 Qs

quiz-placeholder

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Factors of Production Quiz

Factors of Production Quiz

Assessment

Quiz

Social Studies

10th Grade

Practice Problem

Easy

Created by

Emmanuel Enakhifo

Used 8+ times

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14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does land refer to in the context of factors of production?

Physical land such as fields and forests

Natural resources found on land such as minerals and oil

Both physical land and natural resources found on land

All of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a characteristic of land as a factor of production?

The supply of land in the whole world is fixed

Land is geographically immobile

The reward for the use of land is rent

All of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the importance of land as a factor of production?

It provides the basis for all production activities

It is used for farming, fishing, and logging

It includes natural resources used in production

All of the above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of primary production?

  

  

  

A farmer growing crops

A factory manufacturing cars

A restaurant serving food

   A bank providing financial services

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a characteristic of labor as a factor of production?

Labor is geographically mobile

The supply of labor can be varied

The reward for labor services is wages/salaries

All of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Secondary production involves:

  

  

  

Extracting and refining natural resources

Transforming raw materials into finished goods

Providing services to consumers

   Distributing goods through a supply chain

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The main purpose of production in economics is to:

  

  

  

  

Maximize profits for businesses

Meet the needs and wants of consumers

Create employment opportunities

Stimulate economic growth

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