Worksheets2nd BB Form Diagnostic Test
Total questions: 25
Worksheet time: 14mins
Land includes...
The "gifts of nature" or natural resources not created by human effort.
the tools, equipment, and factories used in production of goods and services
people with all their efforts and abilities
individuals who start a new business or bring a product to market.
Capital refers to...
The "gifts of nature" or natural resources not created by human effort.
people with all their efforts and abilities
the tools, equipment, and factories used in production of goods and services
individuals who start a new business or bring a product to market.
Labor refers to...
people with all their efforts and abilities
individuals who start a new business or bring a product to market.
the tools, equipment, and factories used in production of goods and services.
The "gifts of nature" or natural resources not created by human effort.
Entrepreneurs are...
people with all their efforts and abilities
individuals who start a new business or bring a product to market.
The "gifts of nature" or natural resources not created by human effort.
the tools, equipment, and factories used in production of goods and services
which sector of the economy removes or harvest products directly from the earth in order to extract raw materials or food?
secondary
primary
tertiary
linear
3 types of tertiary jobs
banker,teachers,doctor
doctor,teacher,steel making
fishing,hunting,astronaut
agriculture would be an example of
secondary sector
tertiary sector
primary sector
What are the 4 factors of production?
land,milk,ocean,forest
Forest,Ocean,Land,Capital
Capital,Enterprise,Land,Labor
insurance is an example of
primary sector
agriculture
tertiary sector
People who work in primary sector...
get raw materials from nature
elaborate products
provide services
True or False: The primary sector serves as the first stage in the production process.
True
False
True or False: The output form the primary sector is used as input in the secondary sector.
True
False
1. Levels of production depend on availability of __________________.
surplus
foreign
resources
domestic
2. Subsistence level is producing just __________________.
surplus
enough
resources
domestic
4. Production for export is called _________ production.
surplus
domestic
foreign
budget
5. Increased ____________ exchange is a benefit of surplus production.
surplus
domestic
exchange
foreign
7. Subsistence level of production adds to the family's _____________.
budget
domestic
surplus
enough
Which of the following is not a level of production?
Export
Domestic
subsistence
Secondary
which of the following is not a type of production?
Primary production
Domestic production
Secondary production
Tertiary production
In capital-intensive industries the use and cost of capital is more than that of any other factor of production.
True
False
Labour intensive production processes tend to be used to produce:
standardized mass products
custom-made products
The term 'labour cost' refers only to a person's wage or salary:
True
False
Firms that become more capital-intensive usually do so to:
Provide customers with unique custom-made products
Increase the levels of output and productivity by mass producing their products resulting in lower unit costs.
