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WorksheetsEconomics
Total questions: 10
Worksheet time: 3mins
What is the purpose of the four factors of production
To calculate the profit of the business
They are needed to produce goods and provide services
What are the four factors of production
Money, Land, Labour, Marketing
Land, Cash, People, Marketing
Land, Labour, Capital, Enterprise
Enterprise, Land, Money, People
Scarcity is when we have needs and wants beyond our resources
False
True
Ireland is an example of a
Mixed economy
Controlled economy
Free economy
A mixed economy has no government involvement
True
False
Closed economy
Encourages individual enterprise
Government has total control of enterprise
North Korea is an example of a
Mixed economy
Closed economy
Free economy
Irish beef is a popular
Export out of Ireland
Import in to Ireland
Imports are good and services sold to other countries
True
False
Invisible trade is the trade of goods
True
False
