Factors of production are in:
Unlimited wants
Limited in supply
Unlimited supply
Limited demand
The most common objectives are:
To make a profit
Limited liability
Both 1 and 2
Land
Labour
Capital
Enterprise
Marginal cost
Opportunity cost
Fixed cost
Alternative cost
The economic problem results from:
Unlimited wants and unlimited resources
Unlimited wants and limited resources
Limited wants and unlimited resources
Limited wants and limited resources
Factors of production
Division of labour
Departmentation
What are the factors of production?
Land, labour and capital
Land, labour and enterprise
Land, labour, capital and enterprise
Land, capital and enterprise
Which of the following are needed to pay a return to the owners of the business?
Profit
Revenue
Two
Three
Four
Five
Which term is used to cover all of the natural resources?
