4.05 Production

A business combines inputs to make products or services.

• True

• False

What are the resources needed to begin the production process

• Inputs

• Outputs

The finished products or services at the end of the production process are called?

• Inputs

• Outputs

All of the things necessary for production are known as:

• Production
• Entrepreneurship
• Outputs
• Resources

Employees of a company are considered...

• Natural Resources

• Human Resources

• Capital

• Capital Goods

Lumber used to build a house is considered...

• Natural Resource

• Human Resource

• Capital

• Capital Goods

The robots used in a automobile production line is...

• Natural Resource

• Human Resource

• Capital

• Capital Good

The money used to pay for a machine used to produce a product is...

• Natural Resource

• Human Resource

• Capital

• Capital Good

Building a house is a _________ conversion process.

• Capital Intensive

• Promotion Intensive

• Labor Intensive

A power plant that produces electricity with machines is considered a ________ conversion process.

• Capital Intensive

• Promotion Intensive

• Labor Intensive

• Conversion Intensive