ECONOMICS AND FACTORS OF PRODUCTION

This factor of production refers to raw materials from the nature.

• LABOUR

• LAND

• ENTREPRENEUR

• ALLOCATION

These are the opportunities that you have given up after making an economic choice

• TRADE OFF

• ALLOCATION

• ECONOMICS

• FACTOR OF PRODUCTION

Which factor of production refers to the human effort used in the production process?

• LABOUR

• CAPITAL

• LAND

• ENTREPRENEUR

This is a branch of science that focuses on the roles, behaviour and activities of humans in a society.

• MATHEMATICS

• PHYSICAL SCIENCE

• SOCIAL SCIENCE

• ECONOMICS

These are examples of a blue-collared workers

• FARMERS, FISHERFOLKS, AND ACCOUNTANTS

• TEACHERS, FOOTBALL COACHES, AND PHARMACISTS

• DENTISTS, VETERINARY DOCTORS, AND ACTORS

• DRIVERS, DANCERS, AND BUTCHERS

What factor of production refers to the skills and knowledge of human beings?

• LABOUR

• CAPITAL

• LAND

• ENTREPRENEUR

These are examples of white-collared jobs

• LAWYERS, ACCOUNTANTS, AND PHARMACISTS

• PHYSICAL THERAPISTS, DOCTORS AND BASKETBALL COACHES

• DRIVERS, LAWYERS AND CONSTRUCTION WORKERS

• CHESS PLAYERS, SINGERS, AND DANCERS

What is the term for the resources that occur naturally and are not made by humans?

• MANUFACTURED GOODS

• NATURAL RESOURCES

• TECHNOLOGICAL INNOVATIONS

• CAPITAL GOODS

This factor of production refers to the people who create new products and ways in production

• RAW MATERIALS

• ENTREPRENEURS

• LABOUR

• FINANCIAL CAPITAL

These are physiological needs of humans.

• NATURAL RESOURCES

• SOCIAL SCIENCES

• ALLOCATION

• HUMAN NEEDS