Factors of Production Quiz

Factors of Production Quiz

11th Grade

10 Qs

quiz-placeholder

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Factors of Production Quiz

Factors of Production Quiz

Assessment

Quiz

Social Studies

11th Grade

Practice Problem

Hard

Created by

Emily Massey

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Land is used for transportation of goods

Land is responsible for managing the production process

Land is used for storing finished products

Land provides the space for production and contains natural resources.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Explain the concept of rent in the context of land as a factor of production.

Payment made by a tenant to a landlord for the use of land

Payment made by a landlord to a tenant for the use of land

Payment made by a tenant to a neighbor for the use of land

Payment made by a government to a landlord for the use of land

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does labor contribute to the production process?

By providing financial resources

By providing human effort and skills

By contributing raw materials

By offering technological advancements

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Discuss the difference between skilled and unskilled labor in the context of production.

Skilled labor is cheaper than unskilled labor.

Skilled labor refers to workers who have specialized training or skills, while unskilled labor refers to workers who do not require specialized training or skills.

Skilled labor is less productive than unskilled labor.

Skilled labor requires no training, while unskilled labor requires specialized skills.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is capital in the context of factors of production?

Man-made resources used in the production process

Natural resources found in the environment

Financial assets used to start a business

Labor used in the production process

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Explain the concept of interest in the context of capital as a factor of production.

Interest in a bank account

Return on capital investment

Interest on a loan

Interest in a hobby

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What role does entrepreneurship play in the production process?

Selling the products to consumers

Providing entertainment for the workers

Organizing and coordinating the factors of production

Maintaining the machinery in the production process

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