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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
capital resources
B
human resources
C
natural resources
D
embargo resources
2) The skills, talents and education of people used in the production of goods and services.
A
capital resources
B
natural resource
C
human resources
D
entrepreneur
3) Goods, such as machines and tools, used in the production of other goods and services.
A
entrepreneur
B
capital resources
C
natural resources
D
human resources
4) What are the four factors of production?
A
Capital goods, quota, embargo, and tariff
B
Trade barriers, machines, trees, tariff
C
clothes, shoes, machines, trees
D
Natural Resources, human capital, capital goods, entrepreneurs
5) Capital resources are always _________________________.
A
Man-made
B
living
C
From nature
D
Computers
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
capital goods
B
nature
C
a mechanic
D
an entrepreneur
8) How can a business increase their human capital?
A
laying off their employees
B
educate or train their employees.
C
hiring less people
D
firing their employees
9) Natural resources include
A
humans
B
machines
C
roads
D
coal, diamonds, trees
10) Capital resources include
A
Trees, Coal, water
B
machines, buildings, computers
C
workers
D
entrepreneurs
*select an answer for all questions
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