Factors of Production

Presentation

•

History, Social Studies

•

10th - 12th Grade

•

Medium

Jacara WakefieldHS

Used 74+ times

FREE Resource

8 Slides • 14 Questions

Factors of Production

Multiple Choice

What 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?

Multiple Choice

Competition and profit motive are important characteristics of a:

command economy

traditional economy

market economy

socialist economy

Multiple Choice

With which term is a command economic system MOST closely associated?

Entrepreneurship

Economic Freedom

Perfect competition

Governmental regulation

Multiple Choice

There are four types of economic systems. Most economies are _____.

Traditional

Command

Market

Mixed

Multiple Choice

An economic system in which individuals and businesses make decisions about what to produce.

Market economy

Mixed economy

Communism

Command economy

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

Multiple Choice

_______________ IS KNOWN AS THE MANMADE RESOURCES USED TO PRODUCE GOODS AND SERVICES.

Entrepreneurs

Capital

Labor

Land

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

Multiple Choice

Iron Ore

Land

Labor

Physical capital

Entrepreneurship

Multiple Choice

Which factor of production would you consider a lawn mower?

Land

Labor

Capital

Entrepreneur

Multiple Choice

Which factor of production is this?

capital

entrepreneur

land

labor

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

Multiple Choice

Which one of the factors of production is this?

capital

entrepreneur

land

labor

Multiple Choice

Which of the factors of production is this?

capital

entrepreneur

land

labor

Factors of Production

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