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Questions and Answers
What is the primary role of an entrepreneur in a business?
What is the primary role of an entrepreneur in a business?
- To manage the business and co-ordinate the factors of production (correct)
- To extract raw materials from nature
- To manufacture finished goods
- To provide labour
What is an example of human capital as a factor of production?
What is an example of human capital as a factor of production?
- A mineral deposit
- A machine used in a factory
- A plot of land used for farming
- A managing director's skills and experience (correct)
What type of industry involves converting raw materials into finished goods?
What type of industry involves converting raw materials into finished goods?
- Primary industry
- Extractive industry
- Service industry
- Manufacturing industry (correct)
What is the term used to describe the physical assets available for present use in the production of goods and services?
What is the term used to describe the physical assets available for present use in the production of goods and services?
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What is the most important extractive industry in Malawi?
What is the most important extractive industry in Malawi?
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What is an example of an extractive industry in Malawi?
What is an example of an extractive industry in Malawi?
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Who is an example of labour as a factor of production?
Who is an example of labour as a factor of production?
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What is the term used to describe the natural resources available for use in the production of goods and services?
What is the term used to describe the natural resources available for use in the production of goods and services?
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What is an example of a mineral deposit identified in Malawi?
What is an example of a mineral deposit identified in Malawi?
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What is the primary role of labour as a factor of production?
What is the primary role of labour as a factor of production?
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