Factors of Production - SS1 Economics Past Questions and Answers - page 1
1
Which of the following is a factor of production?
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A
Marketing
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B
Sales
C
Land
D
None of the above
2
Which factor of production refers to the physical and mental effort put into producing goods and services by workers?
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A
Labour
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B
Capital
C
Land
D
Entrepreneurship
3
Which factor of production refers to the tools, machinery, and infrastructure used in the production process?
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A
Labour
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Â
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Â
B
Capital
C
Land
D
Entrepreneurship
4
Which factor of production refers to the skill and vision required to identify business opportunities and organize resources to create goods and services?
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A
Labour
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B
Capital
C
Land
D
Entrepreneurship
5
Which factor of production refers to natural resources such as water, forests, minerals, and oil?
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A
Labour
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B
Capital
C
Land
D
Entrepreneurship
6
Define the factor of production 'capital'.
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7
What is the role of entrepreneurship in production process?
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