Economics- Factors Of Production Question Preview (ID: 26273)


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Resources that are found in nature and used in the production of goods and services.
a) human resources
b) capital resources
c) natural resources
d) embargo resources

The skills, talents and education of people used in the production of goods and services.
a) entrepreneur
b) capital resources
c) human resources
d) natural resource

Goods, such as machines and tools, used in the production of other goods and services.
a) natural resources
b) human resources
c) entrepreneur
d) capital resources

What are the four factors of production?
a) Capital goods, quota, embargo, and tariff
b) Natural Resources, human capital, capital goods, entrepreneurs
c) Trade barriers, machines, trees, tariff
d) clothes, shoes, machines, trees

Capital resources are always _________________________.
a) Computers
b) Man-made
c) From nature
d) living

What does NOT describe an entrepreneur?
a) Unimaginative
b) Willing to take risks
c) Resourceful
d) uses their own money to open their store

Donna opened up Donna's Bakery. Donna would be considered
a) an entrepreneur
b) capital goods
c) nature
d) a mechanic

How can a business increase their human capital?
a) hiring less people
b) educate or train their employees.
c) laying off their employees
d) firing their employees

Natural resources include
a) machines
b) roads
c) coal, diamonds, trees
d) humans

Capital resources include
a) Trees, Coal, water
b) workers
c) machines, buildings, computers
d) entrepreneurs

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