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1776362
IGCSE Chapter 7: Factors of production
Description
Quiz on IGCSE Chapter 7: Factors of production, created by rebecca.thompson on 10/12/2014.
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igcse
dulwich
edexcel
business studies
year 10
mrs franklin
Quiz by
rebecca.thompson
, updated more than 1 year ago
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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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