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- 1. Multiple Choice
WHAT ARE THE 4 FACTORS OF PRODUCTION?
Land, Capital, Need & Want
Land, Labor, Capital, Entrepreneurs
Water, Air, Food & Shelter
Land, Capital, Good & Service
- 2. Multiple Choice
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
- 3. Multiple Choice
_______________ IS KNOWN AS THE NATURAL RESOURCES USED TO PRODUCE GOODS AND SERVICES
Entrepreneurs
Capital
Labor
Land
- 4. Multiple Choice
_______________ IS KNOWN AS THE MANMADE RESOURCES USED TO PRODUCE GOODS AND SERVICES.
Entrepreneurs
Capital
Labor
Land
- 5. Multiple Choice
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
- 6. Multiple Choice
Which of the factors of production is this?
capital
entrepreneur
land
labor
- 7. Multiple Choice
Which one of the factors of production is this?
capital
entrepreneur
land
labor
- 8. Multiple Choice
Steve Jobs the founder of Apple is holding up an I-phone. What is another name for someone who starts a business?
capital
entrepreneur
land
labor
- 9. Multiple Choice
Which factor of production is this?
capital
entrepreneur
land
labor
- 10. Multiple Choice
This factor involves money, equipment, and tools and any items to produce goods and services?
capital
entrepreneur
land
labor
- 11. Multiple ChoiceA garbage truck driver is an example of which Factor of Production?laborlandentrepreneurshipcapital
- 12. Multiple ChoiceWhich factor of production would you consider a lawn mower?LandLaborCapitalEntrepreneur
- 13. Multiple ChoiceAny technology/machinery involved in the production process:Human CapitalPhysical CapitalInvestment CapitalEnterprise Capital
- 14. Multiple ChoiceAn individual's knowledge or skills that make production of a good/service more efficientHuman CapitalPhysical CapitalInvestment CapitalEnterprise Capital
- 15. Multiple Choice
Iron Ore
Land
Labor
Physical capital
Human capital
Entrepreneuership
- 16. Multiple Choice
Machinery
Land
Labor
Physical capital
Human capital
Entrepreneurship
- 17. Multiple Choice
Creativity
Land
Labor
Physical capital
Human capital
Entrepreneurship
- 18. Multiple Choice
Human Capital
Physical Capital
Land
Labor
- 19. Multiple ChoiceEach society must determine how to best use its_______PeopleLandNatural ResourcesAll of the above
- 20. 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?
- Answer choicesTagsAnswer choicesTags