1.2.1 - Requirements for Production
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Practice Questions
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List the four requirements for production.
💡 Hint: Think about what resources go into production.
What is an example of working capital?
💡 Hint: This is used up during production.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What are the four requirements for production?
💡 Hint: Think of the main resources mentioned in the section.
True or False: Working capital can be used for many years.
💡 Hint: Recall the definitions of working vs. fixed capital.
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Challenge Problems
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Design a small production model for a new organic soap startup, specifying how you would utilize land, labour, physical capital, and human capital.
💡 Hint: Think of where your materials will come from.
Assess the potential impact of reduced access to land on agricultural production in a developing country.
💡 Hint: Consider socio-economic factors.
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