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Four Factors of Production: Land, Labor, Capital & Entrepreneurship

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

All of the economic inputs that are required to produce goods and services are called:

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1. The physical effort of people to produce goods or services describes which factor of production?

2. The ideas and emotional drive a person has to produce something that other people will want to buy describes which factor of production?

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About This Quiz & Worksheet

Use this quiz/worksheet combo to help you test your understanding of the four factors of production. Of the several topics you'll be assessed on, two include the physical effort of people to produce goods or services as well as the money and physical assets used to produce goods.

Quiz & Worksheet Goals

In these assessments you'll be tested on:

  • All of the economic inputs required to produce goods and services
  • Physical effort of people to produce goods or services
  • Ideas and emotional drive a person has to produce something that other people will want to buy
  • Physical space and natural resources within a location
  • Money and physical assets used to produce goods

Skills Practiced

This quiz and worksheet allow students to test the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on the four factors of production
  • Information recall - access the knowledge you've gained regarding the physical effort of people to produce goods or services and the ideas and emotional drive a person has to produce something that other people will want to buy
  • Knowledge application - use your knowledge to answer questions about the physical space and natural resources within a location as well as the money and physical assets used to produce goods

Additional Learning

To learn more about production, review the accompanying lesson on Four Factors of Production: Land, Labor, Capital & Entrepreneurship. This lesson covers the following objectives:

  • Define the concept of factors of production
  • Know what the four factors of production are and identify examples of each
  • Relate the term economic inputs to your understanding of the four factors of production
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