Factors of Production
Flashcard
•
Specialty
•
9th - 12th Grade
•
Hard
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10 questions
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1.
FLASHCARD QUESTION
Front
The creation of any kind of good or service is known as:
Back
Production
2.
FLASHCARD QUESTION
Front
All of the things necessary for production are known as:
Back
Resources
3.
FLASHCARD QUESTION
Front
The human effort involved in the production of goods and services is known as:
Back
Labor
4.
FLASHCARD QUESTION
Front
The enterprising spirit that allows an individual to spot gaps in the market and take risks (including starting a business):
Back
Entrepreneurship
5.
FLASHCARD QUESTION
Front
All natural resources that go into the production of a good or service: Capital, Entrepreneurship, Land, Labor
Back
Land
6.
FLASHCARD QUESTION
Front
Anything within the production process, whether human or technological, that makes production more efficient
Back
Capital
7.
FLASHCARD QUESTION
Front
Any technology/machinery involved in the production process:
Back
Physical Capital
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