The Creation of Goods and Services Quiz
17 Questions
0 Views

The Creation of Goods and Services Quiz

Created by
@ReformedTropicalIsland

Podcast Beta

Play an AI-generated podcast conversation about this lesson

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?

    <p>Money</p> Signup and view all the answers

    What are some examples of natural resources?

    <p>Water, oil, and copper</p> Signup and view all the answers

    Which of the following is a renewable natural resource?

    <p>Forests</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

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

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

    Which of the following is NOT considered a capital resource?

    <p>Labor</p> Signup and view all the answers

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

    <p>Entrepreneurship</p> Signup and view all the answers

    Which of the following is an example of entrepreneurship?

    <p>Starting a business to produce an educational service</p> Signup and view all the answers

    What are capital resources used for?

    <p>To produce goods and services</p> Signup and view all the answers

    What is the role of labor in production?

    <p>To produce goods and services</p> Signup and view all the answers

    What is the role of natural resources in production?

    <p>To produce goods and services</p> Signup and view all the answers

    What is the role of entrepreneurship in production?

    <p>To start a business</p> Signup and view all the answers

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

    <p>A computer</p> Signup and view all the answers

    What is the last factor of production?

    <p>Entrepreneurship</p> Signup and view all the answers

    More Like This

    The Greek Creation Story
    10 questions

    The Greek Creation Story

    SatisfactoryCliff avatar
    SatisfactoryCliff
    The Creation of Goods and Services Quiz
    5 questions

    The Creation of Goods and Services Quiz

    ReformedTropicalIsland avatar
    ReformedTropicalIsland
    Greek Mythology: The Creation and The Gods
    12 questions

    Greek Mythology: The Creation and The Gods

    WealthyVibraphone avatar
    WealthyVibraphone
    Greek Mythology: The Gods and Creation
    8 questions

    Greek Mythology: The Gods and Creation

    ChivalrousByzantineArt3784 avatar
    ChivalrousByzantineArt3784
    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser