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Quiz on IGCSE Chapter 7: Factors of production, created by rebecca.thompson on 10/12/2014.

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IGCSE Chapter 7: Factors of production

IGCSE Chapter 7: Factors of production

Question 1 of 10

1

which one of the following choices is not one of the four factors of production?

Select one of the following:

  • land

  • capital

  • enterprise

  • marketing

Explanation

Question 2 of 10

1

Capital is the workforce in the economy

Select one of the following:

  • True
  • False

Explanation

Question 3 of 10

1

entrepreneurs are people who work for a business.

Select one of the following:

  • True
  • False

Explanation

Question 4 of 10

1

what is working capital?

Select one of the following:

  • 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.

Explanation

Question 5 of 10

1

specialisation- in businesses, the production of a limited range of goods.

Select one of the following:

  • True
  • False

Explanation

Question 6 of 10

1

labour- intensive production is...

Select one of the following:

  • 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.

Explanation

Question 7 of 10

1

Castiel wants to start up his own charitable business, what 4 skills does he need to become and entrepreneur ?

Select one or more of the following:

  • friendly

  • risk- taker

  • strict

  • decision maker

  • organiser

  • charitable

  • innovator

Explanation

Question 8 of 10

1

division of labour- specialisation in specific tasks or skills by an individual.

Select one of the following:

  • True
  • False

Explanation

Question 9 of 10

1

machinery is...

Select one of the following:

  • fixed capital

  • working capital

Explanation

Question 10 of 10

1

which of the following would make businesses more capital- intensive in production?

Select one or more of the following:

  • 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

Explanation

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