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Factors of Production

Total questions: 65

Worksheet time: 53mins

Name
Class
Date
1.

A Pizza Oven is an example of...

a)

Natural Resources

b)

Human Resources

c)

Capital Resources

d)

Entrepreneurship

2.

Oil is an example of

a)

Natural Resources

b)

Human Resources

c)

Capital Resources

d)

Entrepreneurship

3.

A Factory Worker is an example of...

a)

Natural Resources

b)

Human Resources

c)

Capital Resources

d)

Entrepreneurship

4.

A Teacher is an example of

a)

Natural Resources

b)

Human Resources

c)

Capital Resources

d)

Entrepreneurship

5.

A laptop is an example of...

a)

Natural Resources

b)

Human Resources

c)

Capital Resources

d)

Entrepreneurship

6.

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

7.

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

a)

Natural Resources

b)

Capital Resources

c)

Human Resources

d)

Entrepreneurship

8.

Name the 3 factors of production.

a)

opportunity costs, natural resources, labor

b)

trade off, natural resources, labor

c)

natural resources, human resources, capital resources

d)

natural resources, human capital, scarcity

9.
The term "factors of production" means:
a)
things or skills needed to produce goods or services
b)
how we spend our money
c)
the resources of the government
d)
how society creates jobs
10.
The people who decide to buy.
a)
Producers
b)
Consumers
c)
Economist
d)
Entreprenuers
11.

How many factors of production do we have?

a)

3

b)

6

c)

8

d)

5

12.

The people who work and contribute to the economy

a)

Natural Resources

b)

Human Resources

c)

Entrepreneurship

d)

Capital Resources

13.
What resource is this?
a)
natural resource
b)
human resource
c)
capital resource
14.
What resource is this?
a)
capital resource
b)
natural resource
c)
human resource
15.
What is this resource?
a)
capital resource
b)
human resource
c)
natural resource
16.
what is labor?
a)
economics word
b)
the work people are paid to doto produce goods and services.
c)
all people who work for money.
d)
actions one person does for another.
17.

Economics is the study of _____________.

a)

money

b)

chicken

c)

the Government

d)

choices

18.

a plumber

a)

Natural Resource

b)

Human Resource

c)

Capital Resource

d)

Entrepreneurship

19.

a wrench

a)

Natural Resource

b)

Human Resource

c)

Capital Resource

d)

Entrepreneurship

20.

a delivery truck

a)

Natural Resource

b)

Human Resource

c)

Capital Resource

d)

Entrepreneurship

21.

gold

a)

Natural Resource

b)

Human Resource

c)

Capital Resource

d)

Entrepreneurship

22.

a delivery driver

a)

Natural Resource

b)

Human Resource

c)

Capital Resource

d)

Entrepreneurship

23.

the iPad the waitress uses to take your order

a)

Natural Resource

b)

Human Resource

c)

Capital Resource

d)

Entrepreneurship

24.
What is a renewable resource?
a)
An object you can reuse
b)
An object you cannot reuse
c)
Fossil fuels
d)
Oil
25.
Coal is a __________ energy resource.
a)
Renewable
b)
Nonrenewable
26.
Oil is a __________ energy resource.
a)
Renewable
b)
Nonrenewable
27.
Diamonds and other minerals
a)
Nonrenewable
b)
Renewable
28.

Which of the following is a renewable resource?

a)

Oil

b)

Solar

c)

Coal

d)

Natural Gas

29.

cows, apples and wind are examples of ……………….

a)

renewable resources

b)

non renewable resources

30.

Fuel and minerals are examples of ………………...

a)

renewable resources

b)

non renewable resources.

31.
A person who makes goods or provides a service 
a)
goods 
b)
service producer 
c)
producer
d)
consumer 
32.
A person who uses and buys goods and services 
a)
money 
b)
producer 
c)
consumer 
d)
economics 
33.

When people love a product, a business will increase the ____________________________.

a)

production

b)

consumption

c)

distribution

34.

After the stuffed animals are made they are brought to the stores in large trucks; this is called __________________________.

a)

production

b)

consumption

c)

distribution

35.

All of the things that a company needs to make their products are called _________________________________.

a)

economics

b)

human resources

c)

capital resources

d)

factors of production

36.

People who help stock the shelves at the store are called _______________________________.

a)

human resources

b)

capital resources

c)

factors of production

d)

natural resources

37.

To make cars, you use machines; these are ________________________________.

a)

human resources

b)

natural resources

c)

factors of production

d)

capital resources

38.

When a worker has special training or education to perform a task

a)

Automation

b)

Specialization

c)

Ellimination

39.

_____ is equipment or goods (machinery, tools, factories, stores, vehicles, etc.) that are used to produce other goods and services.

a)

human resource

b)

natural resource

c)

capital resource

d)

production

40.

_____ is workers and their abilities, talents, training, skills, and knowledge used to produce goods or services

a)

human resource

b)

capital resource

c)

natural resource

d)

production

41.

What is the process of making goods and services?

a)

production

b)

distribution

c)

consumption

42.

What is it called to move goods and services directly to or near consumers?

a)

production

b)

consumption

c)

distribution

43.

What is the process of using natural resources or goods and services?

a)

production

b)

consumption

c)

distribution

44.

What is the amount of a product or service that is available for consumers to buy?

a)

demand

b)

supply

c)

scarcity

d)

profit

45.

What is not enough supply or a very small supply?

a)

demand

b)

supply

c)

scarcity

d)

competition

46.

Which of the following is considered "unskilled labor?"

a)

a cashier

b)

a doctor

c)

a teacher

d)

an electrician

47.

What is labor?

a)

Any man made object used to produce goods or services.

b)

Any work done by humans to make goods or provide services.

c)

Any natural resource used to produce goods or services.

d)

All of these.

48.
Minimum wage
a)
The lowest hourly wage permitted by law
b)
The highest hourly wage permitted by law
c)
The lowest salary permitted by law
d)
The highest salary permitted by law
49.

all the people who have jobs or are looking for a job

a)

labor force

b)

employed

c)

division of labor

50.

When many workers specialize and help perform an individual task that results in a finished product.

a)

productivity

b)

labor force

c)

division of labor

51.
a)

renewable resource

b)

non-renewable resource

52.
a)

renewable resource

b)

non-renewable resource

53.
a)

renewable resource

b)

non-renewable resource

54.
a)

renewable resource

b)

non-renewable resource

55.
a)

renewable resource

b)

non-renewable resource

56.
a)

human resource

b)

capital resource

c)

natural resource

57.
a)

human resource

b)

natural resource

c)

capital resource

58.
a)

capital resource

b)

natural resource

c)

human resource

59.
a)

human resource

b)

natural resource

c)

capital resource

60.
a)

capital resource

b)

natural resource

c)

human resource

61.
a)

natural resource

b)

human resource

c)

capital resource

62.
a)

human resource

b)

capital resource

c)

natural resource

63.

When we use up or significantly reduce our resources

a)

recycling

b)

surplus

c)

depletion

d)

dilution

64.

To "use again"

a)

depletion

b)

reduce

c)

recycle

65.

A synonym for labor

a)

hard

b)

easy

c)

work

d)

fun

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