Which of the following is NOT a factor of production?
Economics/Manufacturing Quiz

Quiz
•
Social Studies
•
11th Grade
•
Easy
Scott Symons
Used 1+ times
FREE Resource
23 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Land
Labor
Capital
Taxes
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An increase in demand with no change in supply will result in:
Lower prices
Higher prices
No change in prices
A decrease in quantity supplied
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which concept is illustrated by a point inside the PPC?
Efficiency
Unemployment or underutilization of resources
Economic growth
Impossible production levels
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following scenarios represents scarcity?
A bakery has unlimited flour
A country has limited resources but unlimited wants
A manufacturer producing goods at full capacity
A store offering discounts on surplus items
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A point outside the PPC represents a production level that is currently unattainable.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Labor is an example of a factor of production.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When demand decreases, the equilibrium price of a good generally increases.
True
False
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