1776362
Description
Quiz by rebecca.thompson, updated more than 1 year ago
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Created by rebecca.thompson
over 9 years ago
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Question 1
Question
which one of the following choices is not one of the four factors of production?
Answer
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land
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capital
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enterprise
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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
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this refers to the stocks of raw materials and components that will be used up in production.
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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
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production methods that make more use of machinery relative to labour.
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production methods that make more use of labour relative to machinery.
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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
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friendly
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risk- taker
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strict
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decision maker
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organiser
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charitable
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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
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working capital
Question 10
Question
which of the following would make businesses more capital- intensive in production?
Answer
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can't be bothered to hire people
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rapid advances in technology
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the business has too much money and doesn't know what to do with it
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more large-scale production
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