Factors of Production Review for Final Test Version #1

Factors of Production Review for Final Test Version #1

11th Grade

49 Qs

quiz-placeholder

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Factors of Production Review for Final Test Version #1

Factors of Production Review for Final Test Version #1

Assessment

Quiz

Other

11th Grade

Practice Problem

Easy

Created by

Trisha Memmer

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49 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

During a class discussion, Julia and Andrew were asked to identify a natural resource or "gift of nature". Which of the following did they choose?

Machinery

Computers

Forests

Buildings

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Julia and Andrew are starting a small bakery. In the context of factors of production, what does capital refer to for their business?

Natural resources

Human effort

Tools and equipment

Population growth

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Andrew and Julia are setting up a new office. Which of the following is NOT an example of capital?

Machinery

Water

Computers

Buildings

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Harley and Amanda are discussing what influences the quantity of labor available in an economy. What factor do they identify?

Natural resources

Education levels

Capital goods

Mineral resources

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the reward for entrepreneurs according to Melaina and JT's discussion?

Fame

Profit

Recognition

Experience

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

During a classroom discussion, Andrew and Melaina were asked to identify a resource that cannot be replenished once it is used up. Which of the following did they choose?

Forests

Water

Oil

Wind

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

During a class discussion, Andrew and Julia were talking about economic models. Andrew mentioned the term PPF. What does the abbreviation PPF stand for?

Production Possibilities Function

Production Possibilities Frontier

Production Potential Framework

Production Performance Factor

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