Factors of Production Quiz
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Questions and Answers

Which of the following is NOT considered a factor of production?

  • Labour
  • Capital
  • Entrepreneurship
  • Land (correct)

    • What does the term 'factors of production' refer to?

  • The resources used in the production process (correct)
  • The changing of inputs into outputs
  • The needs and wants of consumers
  • The creation of goods and services

    • Which of the following is an example of a natural resource?

  • Minerals (correct)
  • Capital
  • Entrepreneurship
  • Labour

    • What happens to non-renewable resources once they are used up in production?

    <p>They are no longer available</p> Signup and view all the answers

    Which objective does the text mention in relation to the production of goods and services?

    <p>Objective 2: Satisfy the needs and wants of consumers</p> Signup and view all the answers

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