IGCSE Chapter 7: Factors of production

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Quiz on IGCSE Chapter 7: Factors of production, created by rebecca.thompson on 10/12/2014.
rebecca.thompson
Quiz by rebecca.thompson, updated more than 1 year ago
rebecca.thompson
Created by rebecca.thompson almost 10 years ago
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Resource summary

Question 1

Question
which one of the following choices is not one of the four factors of production?
Answer
  • land
  • capital
  • enterprise
  • marketing

Question 2

Question
Capital is the workforce in the economy
Answer
  • True
  • False

Question 3

Question
entrepreneurs are people who work for a business.
Answer
  • True
  • False

Question 4

Question
what is working capital?
Answer
  • this refers to the stocks of raw materials and components that will be used up in production.
  • this refers to the factories, offices, shops, machines, tools, equipment and furniture used in production.

Question 5

Question
specialisation- in businesses, the production of a limited range of goods.
Answer
  • True
  • False

Question 6

Question
labour- intensive production is...
Answer
  • production methods that make more use of machinery relative to labour.
  • production methods that make more use of labour relative to machinery.
  • production method that only uses animals.

Question 7

Question
Castiel wants to start up his own charitable business, what 4 skills does he need to become and entrepreneur ?
Answer
  • friendly
  • risk- taker
  • strict
  • decision maker
  • organiser
  • charitable
  • innovator

Question 8

Question
division of labour- specialisation in specific tasks or skills by an individual.
Answer
  • True
  • False

Question 9

Question
machinery is...
Answer
  • fixed capital
  • working capital

Question 10

Question
which of the following would make businesses more capital- intensive in production?
Answer
  • can't be bothered to hire people
  • rapid advances in technology
  • the business has too much money and doesn't know what to do with it
  • more large-scale production
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