Economic Factors of Production
Authored by John Robinson
Social Studies
12th Grade
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25 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Capital refers to...
The "gifts of nature" or natural resources not created by human effort.
people with all their efforts and abilities
the tools, equipment, and factories used in production of goods and services
individuals who start a new business or bring a product to market.
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Your garbage man is an example of
Land
Labor
Entrepreneurs
Capital
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
WHAT ARE THE 4 FACTORS OF PRODUCTION?
Land, Capital, Need & Want
Land, Labor, Capital, Entrepreneurs
Water, Air, Food & Shelter
Land, Capital, Good & Service
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
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
5.
DRAG AND DROP QUESTION
1 min • 1 pt
The (a) invests money into machines known as (b) and hires workers known as (c) to bring the raw materials known as (d) together to produce goods and services
entrepreneur
capital
labor
land
money
6.
MATCH QUESTION
1 min • 1 pt
Match the following "Factors of Production" with the description that best fits the word choice above.
Money or Resources to purchase or invest
Consumers
The work people do
Entrepreneurs
Risk-taking individuals
Labor
People who buy and use goods & services
Financial Capital
7.
DROPDOWN QUESTION
1 min • 1 pt
An investment in (a) would help raise a country's literacy rate and standard of living.
human capital
capital goods
entreprenuership
natural resources
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