Factors of Production Choose the correct answer Set 01

Factors of Production
Choose the correct answer Set 01

1. Economics is a .................. science.
(a) Social  
(b) Political
(c) Moral
 
2. There are .................... factors of production.
(a) Two 
(b) Four
(c) Five
 
3. Labour cannot be separated from .......................
(a) Labourer 
(b) Profit
(c) Capital
 
4. In general Capital means ......................
(a) Buildings 
(b) Machinery
(c) Money
 
5. An organizer will always make ......................
(a) Innovations 
(b) Traditions  
(c) Risks
 
6. The reward paid to capital is ........................
(a) Rent 
(b) Wages
(c) Interest
 
7. The reward paid to labour as a factor of production is ..................
(a) Rent 
(b) wages
(c) Profit
 
8. Investment in education is called ..................... capital.
(a) Physical  
(b) Human
(c) Money
 
9. In United States more than ................. of labour force is tertiary workers.
(a) 60% 
(b) 40%
(c) 80%
 
10. Agriculture is classified under ................. sector.
(a) Primary  
(b) Secondary
(c) Tertiary