Factors of Production - JSS1 Business studies Past Questions and Answers - page 1
1
What does the factor of production "land" primarily consist of?
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A
Natural resources
B
Human effort
C
Man-made resources
D
Financial assets
2
Which factor of production encompasses human effort?
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A
Land
B
Labour
C
Capital
D
Entrepreneurship
3
What type of resources does capital primarily refer to?
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A
Natural resources
B
Human resources
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C
Man-made resources
D
Financial resources
4
Who takes on the risk of starting and managing businesses in the factor of production "entrepreneurship"?
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A
Laborers
B
Entrepreneurs
C
Investors
D
Government
5
Which factor of production involves organizing and combining the other factors to create goods and services?
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A
Land
B
Labour
C
Capital
D
Entrepreneurship
6
What does the term "labour" refer to in the context of production?
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A
Natural resources
B
Human effort
C
Man-made resources
D
Financial assets
7
Which factor of production is essential for enhancing productivity by enabling the use of technology and machinery?
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A
Land
B
Labour
C
Capital
D
Entrepreneurship
8
What does the factor of production "land" include besides the surface of the earth?
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A
Minerals
B
Machinery
C
Money
D
Stocks
9
Who bears the uncertainty and risk associated with business ventures in the factor of production "entrepreneurship"?
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A
Labourers
B
Entrepreneurs
C
Investors
D
Consumers
10
What is primarily involved in the factor of production "capital"?
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A
Natural resources
B
Human effort
C
Man-made resources
D
Financial assets
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