FACTORS OF PRODUCTION Quiz

STATE YOUR NAME

Which class do you belong to?

• 7D
• 7I
• 7N
• 7T
• 7H

1. All of the economic inputs that are required to produce goods and services are called

• A. Factors of production
• B. Supply
• C. Demand
• D. Capital for goods

2. The physical effort of people to produce goods or services describes which factor of production?

• A. Land
• B. Capital
• C. Labour
• D. Entrepreneurship

3. The ideas and emotional drive a person has to produce something that other people will want to buy describes which factor if production?

• A. Capital
• B. Labour
• C. Entrpreneurship
• D. Land

4. What is the best explanation of factors of production?

• A. Raw materials used to produce products
• B. Labour and materials
• C. Money and financing
• D. Resources used by a company to produce goods and services

5. Which of the following does NOT fall within the category of land as a factor of production?

• A. A building
• B. Trees
• C. Coal
• D. Water

6. Land is defined as

• A. soil used in farming
• B. Natural resources used in production
• C. Farms used in agriculture or production
• D. The most important factor of production

7. The goods used in the production process such as factories, machinery and equipment are _____

• A. Land
• B. Labour
• C. Resources
• D. Capital

8. Natural gas would fall under which factor if production?

• A. Capital
• B. Land
• C. Entrepreneurship
• D. Labour