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100 Eco - Producer decisions 1 Flashcards | StudBud
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100 Eco - Producer decisions 1
Productivity is calculated by
Renewable or non-renewable - animals?
100 Eco - Producer decisions 1
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Answers
1
Renewable or non-renewable - animals?
renewable
non-renewable
2
Productivity is calculated by
output/input
time
input/output
money
3
The factor reward for capital is...
Interest
Rent
Profit
Wages
4
Which of the following is NOT an example of improved productivity....
the dame number of workers produce more
Reduced training time
fewer workers are able to produce the same output as before
5
Human made goods that can be used to make other goods or to provide services, e.g. tools
human resources
capital resources
entrepreneurship
natural resources
6
A capital good can also be a consumer good when it is being used differently.
False
True
7
Who uses resources to provide goods and services?
Producer
Entreprenuer
Consumer
All of these
8
Labour intensive means
an industry which uses expensive labour
an industry which uses a lot of labour
an industry which uses more capital than labour
an industry which uses more labour than capital
9
Renewable or non-renewable - energy from the sun?
renewable
non-renewable
10
which of the following is NOT a factor resource
demand
labour
capital
land
11
Renewable or non-renewable - Pine trees?
renewable
non-renewable
12
Renewable or non-renewable - snapper?
non-renewable
renewable
13
Which of the following is NOT a capital good
carpenter's hammer
factory
taxi car
house
14
Renewable or non-renewable - diamonds?
renewable
non-renewable
15
Oil is an example of which factor resource?
natural
none of these
capital
labour
16
Capital intensive means
an industry which uses more labour than capital
an industry which uses more capital than labour
an industry which uses expensive capital
an industry which uses a lot of capital
17
The factor reward for labour is...
pride
wages
teamwork
all of these
18
Renewable or non-renewable - oil?
non-renewable
renewable
19
The factor reward for land (natural resources) is...
Wages
Profit
Interest
Rent
20
Natural resources can be renewable or non renewable
True
False
