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Ms. Burch Four Factors of Production Flashcards | StudBud
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Ms. Burch Four Factors of Production
Ms. Burch Four Factors of Production
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76 plays
Pick the best factor of production for each question.
Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
The Internet
Capital
Entrepreneurialism
Labor
Land
2
Uncut timber
Entrepreneurialism
Labor
Land
Capital
3
Gold ore
Land
Entrepreneur
Capital
Labor
4
A schoolbus
Land
Capital
Labor
Entrepreneurialism
5
Roger has a forklift. In Economics, the forklift is actually which of the following?
Capital
Labor
Capitol
Entrepreneur
6
Cashiers
Capital
Entrepreneurialism
Labor
Land
7
Which of the following would NOT be considered a form of economic capital?
A hammer
A truck
A rock
Trained workers
8
Bill Gates, Founder of Microsoft Computers
Capital
Land
Entrepreneurs
Labor
9
Why is it impossible to meet the needs of everyone, at 100% efficiency?
All Factors of Production are scarce.
Capital is scarce.
Land is scarce.
Labor is scarce.
10
In Economics, what elements are required to produce economic goods?
Land, Labor, Capital
Land
Land, Labor, Capital, Entrepreneurship
Land, Labor
11
Railroads
Labor
Capital
Land
Entrepreneurialism
12
Scarcity means that something is in short supply.
False
True
13
The education that a doctor has received, in Economics, is called which of the following?
Natural resources
Entrepreneurialism
Capital
Labor
14
Your teacher
Land
Capital
Labor
Entrepreneurialism
15
Oil wells
Capital
Entrepreneurialism
Land
Labor
