Factors of Production Quiz
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Questions and Answers

What is the main intention of production?

  • To provide required goods and services to the people (correct)
  • To minimize the cost of production
  • To create job opportunities
  • To generate maximum profit

Who uses land, labor, and capital for production?

  • Labor unions
  • Government authorities
  • Financial institutions
  • Proprietor or organizer (correct)

How is land utilized in Janampet?

  • Mainly for agriculture (correct)
  • Mainly for commercial purposes
  • Mainly for residential purposes
  • Mainly for industrial purposes

What happens after the production of goods?

<p>The goods are sold in the markets (B)</p> Signup and view all the answers

What is the primary source of capital for production in the text?

<p>Banks and personal savings (B)</p> Signup and view all the answers

What is the primary purpose of production according to the text?

<p>To provide required goods and services to the people (C)</p> Signup and view all the answers

Which factor of production involves physical activity and is crucial for agriculture?

<p>Labour (A)</p> Signup and view all the answers

What is the primary source of capital for production mentioned in the text?

<p>Borrowing from banks or individuals (C)</p> Signup and view all the answers

Which factor of production is used for agriculture and other activities in Janampet?

<p>Land (C)</p> Signup and view all the answers

Who uses land, labour, and capital for the production of goods?

<p>Producers or organizers (D)</p> Signup and view all the answers

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