1.2 and 1.3 Entry Ticket

The four factors of production include...

• land, labor, capital, and entrepreneurship

• oil, gold, wheat, coffee

• equities, bonds, derivitives, exchange- traded funds

• entertainment, health care, university degrees, labor contracts

Entrepreneurs must do which of the following...

• generate large profits

• do their best to avoid paying their employees high wages

• find a way to combine the factors of production to create their businesses

• avoid paying taxes

Machinery, tools, and technology used to produce goods and services are examples of which of the following...

• human capital

• physical capital

• financial capital

• capital letter

Knowledge and information humans gain through training and education are what type of capital?

• human capital

• capitol in Washington, DC

• physical capital

• financial capital

A society's general well-being/human development is also known as...

• the Standard of Living of the society

• the happiness index of society

• the Quality of Life of a society

• the Gini Coefficient

The four key ways businesses help society are...

• growing food, selling food, consuming food, throwing food

• producing goods and services, employing people, paying taxes, donating time and money

• making products, marketing products, refining products, distributing products

• educating people, providing health care, feeding people, helping those in need

Resources like sunlight, minerals, and water that occur naturally determine which factor of production

• Land

• Labor

• Capital

• Entrpreneurship

The amount of goods and services individuals can buy with the money they have determines...

• a society's quality of life

• how to get rich quickly

• the standard of living of members of a society

• a community's business environment

The possibility that the owner (or owners) of a business may invest time and money in the enterprise and fail to earn a profit is called...

• A bummer

• Fun

• Reward

• Risk

Telus Digital in Guatemala hosts a blood drive for the Red Cross. Which of the four ways businesses help society is demonstrated by this action?

• producing

• employing

• taxes

• donating