NEW
Font size
WorksheetsOccupation and production
Total questions: 20
Worksheet time: 15mins
WHAT ARE THE 4 FACTORS OF PRODUCTION?
Land, Capital, Need & Want
Land, Labor, Capital, Entrepreneurs
Water, Air, Food & Shelter
Land, Capital, Good & Service
WHAT ARE THE 4 FACTORS OF PRODUCTION?
Land, Capital, Need & Want
Land, Labor, Capital, Entrepreneurs
Water, Air, Food & Shelter
Land, Capital, Good & Service
Gold and oil can be seen as:
Natural resources
Labour
Capital
Entrepreneurship
How many factors of production do we have?
1
4
2
3
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
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.
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.
Which of the factors of production is this?
capital
entrepreneur
land
labor
Natural Resources 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.
AN ENTREPRENEUR IS A PERSON WHO _______________.
owns their own business
uses goods and services to produce labor, land, and capital.
use land, labor, and capital to produce good and services.
loves nature and runs a business
_______________ IS KNOWN AS THE NATURAL RESOURCES USED TO PRODUCE GOODS AND SERVICES
Entrepreneurs
Capital
Labor
Land
WHAT IS LABOR?
work people do for pay to produce good and services
actions people do for other people
any physical object
The money people get for inheritance
WHAT ARE THE 4 FACTORS OF PRODUCTION?
Land, Capital, Need & Want
Land, Labor, Capital, Entrepreneurs
Water, Air, Food & Shelter
Land, Capital, Good & Service
What is the price for labor
value
labor productivity
wages
human capital
________ can be defined as any productive activities which people do to earn them living
Production
Labour
Entrepreneur
Occupation
All these are types of occupation EXCEPT
Extractive
Manufacturing
Land
All these are factors affecting choice of an occupation EXCEPT
Family background
Talent
Land
Educational Background
_______ occupation is a good example of a n indirect service
Private teacher
Poolice man
Trader
Fashion designer
_______ is an example of a commercial activity
Insurance
Labour
Capital
Production
One of these is example of an extractive occupation
Building
Banking
Mining
All of the above
