The Creation of Goods and Services Quiz
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Questions and Answers

Which of the following is NOT one of the factors of production?

  • Capital
  • Natural resources (correct)
  • Labor
  • Entrepreneurship

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

  • Copper
  • Oil (correct)
  • Water
  • Forests

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

  • Water (correct)
  • Oil
  • Natural gas
  • Copper

    • What is the term used for resources that are used to make goods and services?

    <p>Factors of production</p> Signup and view all the answers

    What is the first factor of production needed to produce a good or service?

    <p>Natural resources</p> Signup and view all the answers

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