POB Production

Which of the following is NOT a Factor of Production?

• Land

• Enterprise

• Sales

• Capital

• Labour

Answer explanation

Land, Labour, Capital & Enterprise are the Factors of Production

What are the THREE Types of Production?

• Primary

• Private

• Secondary

• Tertiary

• Public

Primary production concerns the extraction of raw materials provided by nature.

• TRUE

• FALSE

ALL are examples of Primary production, EXCEPT:

• Agriculture

• Fishing

• Banking

• Mining

Tertiary production consists of the manufacturing and construction industries where a physical product is made.

• TRUE

• FALSE

Answer explanation

In secondary production, the raw materials are converted into an end product.

Select ALL the examples of Secondary prodction:

• Bicycle Manufactures

• House Construction

• Fishing

• Ketchup Factories

• Agriculture

Tertiary production provides services.

• TRUE

• FALSE

Which is NOT an example of Tertiary production?

• Car Factory

• Hotels

• Car Wash

• Banking

• Restaurants

Agriculture, Mining and Fishing are examples of which type of production:

• Primary

• Secondary

• Tertiary

Banking, hotels, and restaurants are all examples of which type of production:

• Primary

• Secondary

• Tertiary