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The Creation of Goods and Services Quiz

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Questions and Answers

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

Labor

Entrepreneurship

Natural resources (correct)

Capital

What are natural resources?

Raw materials used to make other things (correct)

Man-made materials used to make goods

Skills and knowledge used to create goods

Money and resources used to produce goods

Which of the following is an example of labor resource?

Oil

Factory worker (correct)

Water

Copper

What is capital in the context of production?

Money Signup and view all the answers

What are some examples of natural resources?

Water, oil, and copper Signup and view all the answers

Which of the following is a renewable natural resource?

Forests Signup and view all the answers

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

Natural resources Signup and view all the answers

What do we call the resources used to make goods and services?

Factors of production Signup and view all the answers

Which of the following is NOT considered a capital resource?

Labor Signup and view all the answers

Which factor of production involves someone starting or improving a business?

Entrepreneurship Signup and view all the answers

Which of the following is an example of entrepreneurship?

Starting a business to produce an educational service Signup and view all the answers

What are capital resources used for?

To produce goods and services Signup and view all the answers

What is the role of labor in production?

To produce goods and services Signup and view all the answers

What is the role of natural resources in production?

To produce goods and services Signup and view all the answers

What is the role of entrepreneurship in production?

To start a business Signup and view all the answers

What is an example of a capital resource used by a teacher to produce an educational service?

A computer Signup and view all the answers

What is the last factor of production?

Entrepreneurship Signup and view all the answers

The Creation of Goods and Services Quiz

Choose a study mode

Podcast

Questions and Answers

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

What are natural resources?

Which of the following is an example of labor resource?

What is capital in the context of production?

What are some examples of natural resources?

Which of the following is a renewable natural resource?

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

What do we call the resources used to make goods and services?

Which of the following is NOT considered a capital resource?

Which factor of production involves someone starting or improving a business?

Which of the following is an example of entrepreneurship?

What are capital resources used for?

What is the role of labor in production?

What is the role of natural resources in production?

What is the role of entrepreneurship in production?

What is an example of a capital resource used by a teacher to produce an educational service?

What is the last factor of production?

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