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- 1. Multiple Choice
What is the purpose of the four factors of production
To calculate the profit of the business
They are needed to produce goods and provide services
- 2. Multiple Choice
What are the four factors of production
Money, Land, Labour, Marketing
Land, Cash, People, Marketing
Land, Labour, Capital, Enterprise
Enterprise, Land, Money, People
- 3. Multiple Choice
Scarcity is when we have needs and wants beyond our resources
False
True
- 4. Multiple Choice
Ireland is an example of a
Mixed economy
Controlled economy
Free economy
- 5. Multiple Choice
A mixed economy has no government involvement
True
False
- 6. Multiple Choice
Closed economy
Encourages individual enterprise
Government has total control of enterprise
- 7. Multiple Choice
North Korea is an example of a
Mixed economy
Closed economy
Free economy
- 8. Multiple Choice
Irish beef is a popular
Export out of Ireland
Import in to Ireland
- 9. Multiple Choice
Imports are good and services sold to other countries
True
False
- 10. Multiple Choice
Invisible trade is the trade of goods
True
False
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