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Factors of production

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

How many factors of production do we have?

a)

1

b)

4

c)

2

d)

3

2.

Gold and oil can be seen as:

a)

Natural resources

b)

Labour

c)

Capital

d)

Entrepreneurship

3.

Identify the correct factor of production.

Skilled people working in a lawyers firm will be seen as?

a)

Natural resources

b)

Labour

c)

Capital

d)

Entrepreneurship

4.

Identify the correct factor of production.

Individuals with great ideas and willing to take risks.

a)

Natural resources

b)

Labour

c)

Capital

d)

Entrepreneurship

5.

Identify the correct factor of production.

Machinery and factories are?

a)

Natural resources

b)

Labour

c)

Capital

d)

Entrepreneurship

6.

Identify the correct factor of production.

Water, wood and fish are?

a)

Natural resources

b)

Labour

c)

Capital

d)

Entrepreneurship

7.

Identify the correct factor of production.

Any person working will be seen as?

a)

Natural resources

b)

Labour

c)

Capital

d)

Entrepreneurship

8.

When we look at tools and money invested in a business, it can be classified as which factor of production?

a)

Natural resources

b)

Labour

c)

Capital

d)

Entrepreneurship

9.

Land / Natural resources will earn?

a)

Profit

b)

Wages

c)

Rent

d)

Interest

10.

Capital will earn?

a)

Profit

b)

Wages

c)

Rent

d)

Interest

11.

Entrepreneurship will earn?

a)

Profit

b)

Wages

c)

Rent

d)

Interest

12.

Labour will earn?

a)

Profit

b)

Wages

c)

Rent

d)

Interest

13.

Mineral deposits will be seen as?

a)

Natural resources

b)

Labour

c)

Capital

d)

Rent

14.

Workers who have specialized training or

a learned skill-set to perform the work can be classified as?

a)

Skilled labour

b)

Semi-skilled labour

c)

Unskilled labour

d)

Cheap labour

15.

The jobs that require unskilled labour are continually

shrinking due to technological and societal advances.

a)

True

b)

False

16.

A form of borrowed capital is?

a)

Loans

b)

Savings

c)

Inheritance

17.

Some business like a doctor's practice will only have three factors of production.

a)

True

b)

False

18.

Which is not an example of skilled labour?

a)

Accountant

b)

Doctor

c)

Manager

d)

Farm worker

19.

Businesses have the right to employ who ever they want?

a)

True

b)

False

20.

Plants and water are all renewable resources.

a)

True

b)

False