The Factors of Production (Grade 11 NSC Matric Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What are the four main factors of production?
What are the four main factors of production?
Natural resources, labour, capital, ent.
What payment does labour earn for its contribution?
What payment does labour earn for its contribution?
Wages
Which are examples of non-renewable natural resources?
Which are examples of non-renewable natural resources?
Coal and diamonds
What payment do natural resource owners receive?
What payment do natural resource owners receive?
Rent
What category describes university-educated professionals?
What category describes university-educated professionals?
Skilled labour
Which characteristic uniquely applies to labour?
Which characteristic uniquely applies to labour?
It cannot be stored
Schools, hospitals, and roads are examples of which capital type?
Schools, hospitals, and roads are examples of which capital type?
Social capital
What occurs during capital deepening?
What occurs during capital deepening?
Capital per worker increases
What is the primary role of entrepreneurs?
What is the primary role of entrepreneurs?
They coordinate resources and take risks
What does profit represent for entrepreneurs?
What does profit represent for entrepreneurs?
What remains after paying all costs