WorksheetsSSEF Fundamentals 3
Total questions: 10
Worksheet time: 5mins
Which of these is NOT one of the 4 factors of production?
Labor
Land
Entrepreneurship
Work Skills
Which of the following is NOT a requirement of scarce resources?
Limited
Desired
Valuable
Tradeable
Which of the following would NOT be a positive incentive?
A teacher offers bonus points on a test if students get 100% on HW
A football coach lets his team skip sprints if they give good effort
An employer fines employees $10 every time they are late to work
A father gives his son $10 for each "A" at the end of the semester
The factories pictured above would be categorized as which factor of production?
Land Resources
A Labor Resource
A Capital Resource
They are not factors of production
A rational employer would only hire someone for $15 per hour if...
the workers were very productive
the employer really needed to increase his/ her output
they no longer had to cover health insurance
the workers produced more than $15 of revenue per hour
This image of an assembly line BEST represents the answer to which economic question?
What to produce?
How to produce?
When to produce?
For whom to produce?
Which of the following BEST explains why entrepreneurs take the risk of starting a business?
to make profits homie
to have the freedom to make their own choices
to make their own hours
because the government backs them financially
In college, people can major in a wide variety of fields including medicine, journalism, business, and design among others. This is an example of the concept of
scarcity
specialization
elastic demand
progressive taxation
Competition and free enterprise are most common in which type of economic system?
market
command
planned
traditional
Investing heavily in new capital equipment and technology is MOST related to
economic freedom
supply and demand
economic growth
opportunity costs
