BBI2O Unit 2 Chapter 5 Factors of Production

Question 1

In order to save money, businesses try to reduce the cost of labour by:

Accepted Answer

All of the above

Question 2

The most basic materials that are used in the production of goods are known as _________

Accepted Answer

Natural Resources

Question 3

Consultants are usually hired to ___________

Accepted Answer

provide specific information about certain markets.

Question 4

Lower-management is responsible for making choices about the direction of the business.

Accepted Answer

False

Question 5

Supplies are raw materials that go into a final product.

Accepted Answer

False

Question 6

For most businesses labour is the biggest cost.

Accepted Answer

True

Question 7

Raw materials can be divided into two types, ingredients and supplies.

Accepted Answer

True

Question 8

One example of automation is Tim Hortons's, production is done in centralized locations.

Accepted Answer

False

Question 9

Which of the following is a raw material?

Accepted Answer

Water, Fish

Questions 9