The Factors of Production (economy)

Which option is not an example of capital as a resource?

• computer

• factory

• machinery

• natural resources

Which event is most likely to cause an increase in the average wage of labour?

• a decrease in the national minimum wage

• an increase in the national minimum wage

• government tax policies

• net migration of labour into the country

Which of the following statements are classed as land?

• employee

• building

• farm

• computer

Which of the following statements are classed as enterprise?

• starting a new business

• money

• plough

• carpenter

Which of the following statements are classed as labor?

• factory

• accountant

• office

• farm

Refers to the willingness and ability of a person to relocate from one area to another for employment purposes is called?

• Occupational mobility

• Geographical mobility

• Factor of production

• Rewards for factor of production

The reward for capital is called?

• rent

• salaries

• interest

• profit

The reward for labour is called?

• profit

• interest

• salaries

• rent

The reward for enterprise is called?

• Profit

• Rent

• Wages

• Interest

As a factor of production, a fisherman would be best referred to as

• capital

• land

• labour

• enterprise