Factors of Production
Quiz by Micheale Agee
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30 questions
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- Q1What are the four main factors of production?Water, Energy, Raw Materials, and TechnologyPlants, Animals, Minerals, and MachinesLand, Labor, Capital, and EntrepreneurshipWorkers, Managers, Investors, and Customers30s
- Q2Which factor of production refers to the skills and efforts of people who work?LaborEntrepreneurshipLandCapital30s
- Q3Which factor of production includes tools, machines, and buildings used in the production process?EntrepreneurshipLaborLandCapital30s
- Q4What is the factor of production that involves the natural resources used to create goods?CapitalEntrepreneurshipLandLabor30s
- Q5Which factor of production is responsible for organizing and managing the other factors to create goods and services?LandCapitalLaborEntrepreneurship30s
- Q6Which of the following best describes 'human capital'?The land used for farmingThe amount of money invested in machinesThe skills and knowledge of workersThe tools and equipment owned by a business30s
- Q7What is the role of an entrepreneur in the factors of production?To supply raw materialsTo provide labor in the production processTo manage the capital resourcesTo innovate and take risks in starting new businesses30s
- Q8Which of the following is NOT considered a factor of production?CapitalLandMoneyLabor30s
- Q9Which factor of production might include a factory building?LaborLandCapitalEntrepreneurship30s
- Q10Which factor of production involves the raw materials needed to produce goods?CapitalLandEntrepreneurshipLabor30s
- Q11Which industry is known for making clothes and fabrics?Textile industryAutomotive industryFood industryTechnology industry30s
- Q12What type of industry involves growing crops and raising animals?Manufacturing industryEntertainment industryAgricultural industryConstruction industry30s
- Q13Which industry involves research, development, and the manufacturing of computers and software?Food industryFashion industryArts industryTechnology industry30s
- Q14Which industry focuses on creating and distributing entertainment products such as movies, music, and games?Construction industryManufacturing industryEntertainment industryAgricultural industry30s
- Q15Which industry is mainly responsible for designing and producing vehicles like cars and trucks?Energy industryFood industryAutomotive industryHealth care industry30s