Week 20 summary sheet Factors of Production Quiz

Passage
•
Business
•
11th Grade
•
Hard
Wayground Content
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11 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term 'LAND' refer to in the context of the 4 factors of production?
The financial resources required to run a business
The manual labor and skilled workers in a business
The natural resources and premises needed for a business
The entrepreneur who sets up the business
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is 'LABOUR' considered as in the 4 factors of production?
The natural resources like coal, oil, and forests
The workforce including manual workers, skilled workers, and managers
The money spent on raw materials and components
The person who comes up with the business idea and takes risks
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is 'CAPITAL' in the context of the 4 factors of production?
The natural resources used by a business
The workforce of a business
The money used to buy things for production and fixed assets
The entrepreneur responsible for setting up the business
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does 'ENTERPRISE' refer to in the 4 factors of production?
The buildings and machinery used in production
The natural resources like land and water
The workforce of a business
The entrepreneur who sets up the business and organizes resources
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one of the advantages of specialisation mentioned in the text?
It leads to over-reliance on a limited range of products
It makes workers vulnerable to taste changes
It improves productivity due to focused work on specific tasks
It causes delays if one stage of production breaks down
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a disadvantage of specialisation?
It leads to low unit costs and less wastage
It improves productivity by allowing workers to concentrate on what they do best
It can make work boring because of repetition
It allows workers to switch from one task to another easily
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of production methods do businesses in countries with cheap labor typically choose?
Capital-intensive production
Labour-intensive production
Automated production
Outsourced production
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