4th POB graded activity-Production

The machinery used in rice growing would be defined as which of the following factors of production?

• Enterprise

• Land

• Labour

• Capital

Which of the following provides the best explanation for the rising productivity of labour in an enterprise?

• More labour is being employed

• More output is being produced in total

• Labour is working more efficiently with existing capital

• The business is employing less capital than before

Which of the following provides the best explanation for the high level of productivity in Barbados?

• A positive work ethic in Barbados

• Effective combinations of capital and labour in Barbados

• A good healthcare and education system in Barbados

• All of the above

Which of the following is an example of fixed capital in a supermarket?

• The display cabinets

• The cash in the tills

• Money owed by people who have bought on credit

• Stock waiting to be sold

List TWO types of production.

Explain the importance of productivity.

List FOUR natural resources found in the Caribbean.

What is the reward for capital?

What is the reward for land?

Explain TWO levels of production.