Factors of Production - JSS1 Business studies Past Questions and Answers - page 2
Which factor of production refers to the work done by individuals in various occupations?
Land
Labour
Capital
Entrepreneurship
Share this question
What is essential for agriculture, mining, and construction in the factor of production "land"?
Minerals
Machinery
Water
Stocks
Share this question
Who makes decisions about what to produce, how to produce it, and for whom to produce it in the factor of production "entrepreneurship"?
Labourers
Entrepreneurs
Investors
Consumers
Share this question
What does the term "capital" encompass in the context of production?
Natural resources
Human effort
Man-made resources
Financial assets
Share this question
Which factor of production primarily includes physical and mental human effort?
Land
Labour
Capital
Entrepreneurship
Share this question
What type of resources does the factor of production "land" primarily consist of?
Natural resources
Human resources
Man-made resources
Financial resources
Share this question
Give an example of a natural resource included in the factor of production "land".
Share this question
How does capital contribute to enhancing productivity in the production process?
Share this question
What role do entrepreneurs play in the economy?
Share this question
How does labor quality impact production outcomes?
Share this question