
Y10 Economics - Factors of Production and Circular Flow Model
Authored by Dexter Lim
Business
10th Grade
Used 3+ times

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21 questions
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1.
MATCH QUESTION
1 min • 1 pt
Match the following definitions
Economics
The economics of how countries interact
Macroeconomics
The study of scarcity
Microeconomics
The economics of individuals, households and businesses
Global economics
The economics of a whole nation
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of these are Factors of Production?
Capital
Labour
Entrepreneurship
Land
3.
MATCH QUESTION
1 min • 1 pt
Match the following definitions
Labour
Natural resources used in the production process
Capital
Human resources required in the production process
Enterprise
Skills, creativity and risk-taking ability of a business person
Land
Non-natural products used in the production process
4.
CATEGORIZE QUESTION
3 mins • 1 pt
Organize these options into the right categories
Groups:
(a) Labour
,
(b) Land
,
(c) Capital
,
(d) Enterprise
Steve Jobs
equipment
Bill Gates
barista
doctor
oil
agricultural products
chef
tools
coal
Jay-Z
water
vehicles
accountant
machinery
Elon Musk
wood
5.
FILL IN THE BLANKS QUESTION
1 min • 1 pt
The reward for capital is ...
(use lower-case letters)
(a)
6.
FILL IN THE BLANKS QUESTION
1 min • 1 pt
The reward for enterprise is
(use lower-case letters)
(a)
7.
FILL IN THE BLANKS QUESTION
1 min • 1 pt
The reward for land is (a)
(use lower-case letters)
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