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- 1. Multiple ChoiceWhat are the three economic questions?What to produce? How to produce? For whom to produce?Who to produce? Why you produce? Like to produce?Why to produce? Tell who to produce? Things to produce?
- 2. Multiple Choice
Each society must determine how to best use its_______PeopleLandNatural ResourcesAll of the above - 3. Multiple ChoiceA garbage truck driver is an example of which Factor of Production?laborlandentrepreneurshipcapital
- 4. Multiple ChoiceThe term "factors of production" means:things or skills needed to produce goods or serviceshow we spend our moneythe resources of the governmenthow society creates jobs
- 5. Multiple ChoiceIron, minerals, coal and plants are examples of which productive resource?landlaborentrepreneurshipcapital
- 6. Multiple ChoiceThe term, "land" means:The natural resources used to produce goods or services.Work the people do to produce goods and services.Goods not created for their own use, but to make other goods/services.Person who organizes the factors of production to produce goods/services; business owners.
- 7. Multiple ChoiceThe term, "labor" means:Work the people do to produce goods and services.The natural resources used to produce goods or services.Person who organizes the factors of production to produce goods/services; business owners.Goods not created for their own use, but to make other goods/services.
- 8. Multiple ChoiceWhich is an example of investment in human capital?trucksfactorieseducationhighways
- 9. Multiple ChoiceWhich activity is an example of investing in physical capital by a company?constructing a new factorythrowing away old delivery trucksgiving workers more time off to resttraining workers to do their jobs better
- 10. Multiple ChoiceWhat is an entrepreneur?A person who starts a new business.A leader of a country.A worker in a factory.A student in college.
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