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WorksheetsCH 5.2 THE THEORY OF PRODUCTION
Total questions: 8
Worksheet time: 5mins
Name
Class
Date
1.
Which of the following is NOT a factor of production?
a)
Technology
b)
Information technology
c)
land
d)
Interest
2.
The relationship between the quantity of inputs used to make a good and the quantity of output produced.
a)
Diminishing Marginal Utility
b)
Production Function
c)
Conjunction Junction
d)
Economies of Scale
3.
Which of the following is not a factor of production?
a)
food
b)
land
c)
labour
d)
capital
4.
What is this resource?
a)
human resource
b)
capital resource
c)
natural resource
d)
human and capital resource
5.
What is an entrepreneur?
a)
A person who starts a new business.
b)
A leader of a country.
c)
A worker in a factory.
d)
A student in college.
6.
Which factor of production includes natural resources?
a)
Land
b)
Labor
c)
Capital
d)
Entrepreneurs
7.
Which of the following best describes trade-offs?
a)
The benefits of a decision
b)
The alternatives available
c)
The sacrifices made when choosing one option over another
d)
The total cost of production
8.
What is the significance of limited resources in decision-making?
a)
They increase production
b)
They force individuals to make choices
c)
They have no impact
d)
They simplify choices
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