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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
List the four requirements for production.
💡 Hint: Think about what resources go into production.
Question 2
Easy
What is an example of working capital?
💡 Hint: This is used up during production.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What are the four requirements for production?
- Land
- Labour
- Technical Skills
- Machinery
- Land
- Labour
- Physical Capital
- Human Capital
- Land
- Labour
- Infrastructure
- Technology
💡 Hint: Think of the main resources mentioned in the section.
Question 2
True or False: Working capital can be used for many years.
- True
- False
💡 Hint: Recall the definitions of working vs. fixed capital.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
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.
Question 2
Assess the potential impact of reduced access to land on agricultural production in a developing country.
💡 Hint: Consider socio-economic factors.
Challenge and get performance evaluation