Understanding Capital Goods

Understanding Capital Goods

Assessment

Interactive Video

Business

7th - 10th Grade

Hard

Created by

Emma Peterson

FREE Resource

The video explains capital goods, which are durable items used in the production of other goods and services. It distinguishes capital goods from consumer goods, which are consumed rather than used to produce other items. Examples of capital goods include machinery, equipment, and infrastructure. The video also covers the primary factors of production: capital goods, land, and labor. Additionally, it differentiates capital goods from intermediate goods, which are components of the final product.

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8 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are capital goods primarily used for?

For personal consumption

To produce other goods and services

As a form of currency

To entertain consumers

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a characteristic of capital goods?

They are durable

They are consumed quickly

They are long-lasting

They are used in production

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT an example of a capital good?

A ladder used in window cleaning

A computer used in an office

A machine used in manufacturing

A car used for personal travel

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do consumer goods differ from capital goods?

Consumer goods are used in services

Consumer goods are durable and long-lasting

Consumer goods are used to produce other goods

Consumer goods are consumed by individuals

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is considered a fixed asset?

A bag of flour

A bottle of water

A factory building

A loaf of bread

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the primary factors of production?

Capital goods, labor, and money

Land, labor, and capital goods

Consumer goods, land, and labor

Intermediate goods, capital, and land

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What distinguishes intermediate goods from capital goods?

Intermediate goods are final products

Intermediate goods are components of the final product

Intermediate goods are consumed directly

Intermediate goods are used to deliver services

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the production of bread, which item is a capital good?

Salt

Flour

Yeast

Baker's oven