Jss1

What are the four main factors of production used by businesses?

• Labour, Capital, Entrepreneurship, and Technology
• Money, People, Machines, and Resources
• Land, Labour, Capital, and Enterprise
• Intellectual Capital, Physical Capital, Human Capital, and Social Capital

Which of the following is not a factor of production?

• Technology
• Money
• Land
• Workforce

Which of the following is a factor of production?

• Time
• Equipment
• Materials
• Ideas

What do all of the factors of production have in common?

• They are all essential for a business to succeed
• They all involve some type of capital
• They all require human labour
• They can all be used to make products

Which of the following is not considered to be a factor of production?

• Capital
• Intellectual Property
• Expertise
• Management

What is the role of the entrepreneurial factor of production?

• To develop new technologies
• To provide the necessary capital
• To take risks and identify new opportunities
• To provide the labour needed for production

What is the role of the human capital factor of production?

• To provide labour
• To provide technology
• To provide resources
• To provide money

What is the role of the physical capital factor of production?

• To provide resources
• To provide money
• To provide labour
• To provide technology

What is the role of the technology factor of production?

• To provide the capital needed for production
• To provide the labour needed for production
• To provide the resources needed for production
• To provide the knowledge needed for production

What is the role of the natural resources factor of production?

• To provide the technology needed for production
• To provide the capital needed for production
• To provide the resources needed for production
• To provide the labour needed for production