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Economics- Factors Of Production
Test Description: Economics
Instructions: Answer all questions to get your test result.
1) Resources that are found in nature and used in the production of goods and services.
A
natural resources
B
human resources
C
embargo resources
D
capital resources
2) The skills, talents and education of people used in the production of goods and services.
A
natural resource
B
human resources
C
entrepreneur
D
capital resources
3) Goods, such as machines and tools, used in the production of other goods and services.
A
human resources
B
natural resources
C
entrepreneur
D
capital resources
4) What are the four factors of production?
A
Trade barriers, machines, trees, tariff
B
Natural Resources, human capital, capital goods, entrepreneurs
C
clothes, shoes, machines, trees
D
Capital goods, quota, embargo, and tariff
5) Capital resources are always _________________________.
A
living
B
Computers
C
Man-made
D
From nature
6) What does NOT describe an entrepreneur?
A
Willing to take risks
B
uses their own money to open their store
C
Resourceful
D
Unimaginative
7) Donna opened up Donna's Bakery. Donna would be considered
A
nature
B
capital goods
C
an entrepreneur
D
a mechanic
8) How can a business increase their human capital?
A
firing their employees
B
educate or train their employees.
C
laying off their employees
D
hiring less people
9) Natural resources include
A
roads
B
coal, diamonds, trees
C
machines
D
humans
10) Capital resources include
A
workers
B
machines, buildings, computers
C
entrepreneurs
D
Trees, Coal, water
*select an answer for all questions
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