Factors of Production Quiz

What is the first factor of production?

• labor

• land

• entrepreneurship

• capital

Which factor of production refers to the physical and mental effort of human beings?

• capital

• land

• entrepreneurship

• labor

What is the term used for man-made resources used in the production process?

• capital

• entrepreneurship

• labor

• land

Which factor of production involves the ability to take risks and innovate?

• entrepreneurship

• labor

• capital

• land

What are the gifts of nature that are used in the production of goods and services?

• Raw materials

• Man-made resources

• Artificial ingredients

• Natural resources

Which factor of production includes all natural resources such as land, water, minerals, etc.?

• land

• labor

• capital

• entrepreneurship

What is the second factor of production?

• capital

• land

• labor

• entrepreneurship

Which factor of production includes all physical and mental inputs used in the production process?

• capital

• land

• labor

• entrepreneurship

What is the term used for financial resources used in the production process?

• capital

• liabilities

• money

• assets

Which factor of production involves the ability to organize and manage resources?

• capital

• entrepreneurship

• land

• labor