Question 1
What is not a factor of production?
A
a 10 dollar note
B
a farm labourer
C
a farm shop
D
a tractor
Question 2
[Maximum number: 1]
What is most likely to increase enterprise as a factor of production in an economy?
A
a decrease in government spending on education
B
a decrease in regulation on firms
C
an increase in emigration
D
an increase in taxation on firms
B
Question 3
[Maximum number: 1]
A university rejects 2000 qualified applicants who wish to study there.
Which factor of production could have caused the university to make this decision?
A
infinite quantity of capital
B
scarcity of labour
C
surplus of land
D
unlimited supply of enterprise
B
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