Factors of production

Which of the following is not a factor of production?

• Land
• Labour
• Money
• Capital

Land as a factor of production includes:

• Factories
• Human labor
• Natural resources
• Machinery

Which factor of production is responsible for combining all other factors?

• Capital
• Labour
• Entrepreneur
• Land

Which of the following is an example of capital?

• Coal mine
• Teacher
• Truck
• River

Production can be defined as:

• Selling goods
• Creating goods and services
• Buying goods
• Consuming services

Which factor of production earns wages?

• Capital
• Land
• Labour
• Enterprise

The reward for capital is called:

• Profit
• Rent
• Wages
• Interest

The human effort used in production is called

• Land
• Labour
• Capital
• Enterprise

Which of the following is considered a renewable resource?

• a) Oil
• b) Coal
• c) Wind
• d) Gold

Entrepreneurship involves:

• a) Only taking risks
• b) Only investing money
• c) Organizing other resources and taking risks
• d) Manufacturing goods