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Factors of Production Quiz

Total questions: 9

Worksheet time: 6mins

Name
Class
Date
1.

In this image, what is the land?

a)

The tables and chairs

b)

The building

c)

The people making the coffee

d)

The coffee beans

2.

In this image, what is the physical capital?

a)

The baristas

b)

The coffee machines

c)

The people waiting for coffee

3.

In this image, what is the human capital?

a)

The people waiting for coffee

b)

The coffee

c)

The barista's ability to make good coffee

d)

The tables and chairs

4.

In this image, what is the labor?

a)

The barista's knowledge of how to make coffee

b)

The cashier taking orders and payment

c)

The customer waiting

d)

The machines making the coffee

5.

Which of the following is an example of entrepreneurship (check all that apply).

a)

Working at a coffee shop

b)

Creating a new way to roast coffee beans

c)

Farming coffee beans

d)

Envisioning a new kind of coffee house that is ore family-friendly

e)

Patronizing a coffee shop

6.

Which is an example of a good?

a)

A cup of coffee

b)

The barista's skill with an foaming machine.

7.

Which is an example of a service?

a)

A baker in a coffee shop making amazing croissants.

b)

A croissant.

8.

Which of the following are scarce resources? (Check all that apply)

a)

water

b)

land

c)

coal

d)

fossil fuels

9.

Why do we care about economics?

a)

Because we want to know how to make money in the 21st Century

b)

Because there are not enough resources to fulfill needs and wants, so we have to solve problems and make choices.

c)

Because there are too many resources and we have to decide who gets what.