Factors of Production Quiz

What are the five factors of production?

• Labor, capital, information resources, physical resources, and entrepreneurs

• Labor, capital, technology, education, and businesses

• Labor, capital, technology, businesses, and government

• Technology, education, entrepreneurs, businesses, and government

Which of the following is considered a primary factor of production?

• Labor

• Technology

• Education

• Government

What role do entrepreneurs play in the factors of production?

• They provide labor

• They organize and manage other factors

• They supply capital

• They offer physical resources

Which factor of production is primarily concerned with machinery and tools?

• Labor

• Capital

• Information resources

• Entrepreneurs

n a planned economy, who controls the factors of production?

• 1. The citizens

• 1. The entrepreneurs

• 1. The businesses

• 1. The government

What are factors of production?

• The way in which a society organizes the production and distribution of goods and services

• A system of exchanging goods and services

• The way resources are gathered in order to produce goods and services

• A person who has the idea of a business and gathers all the resources to start one

Labor refers to...

• people with all their efforts and abilities

• individuals who start a new business or bring a product to market.

• The "gifts of nature" or natural resources not created by human effort.

Which of the following would be a natural resource?

• TV announcers
• bankers
• fish
• farmers

Which of the following is an example of one of a business's inputs:

• services

• products

• employees

• goods

Which of the following is an example of one of a business's inputs:

• services

• products

• employees

• goods