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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What are the four factors of production?
💡 Hint: Remember the acronym 'LEC'.
Question 2
Easy
Which factor of production is associated with human effort?
💡 Hint: Think about the work done by employees.
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
Which of the following is NOT a factor of production?
- Land
- Technology
- Labor
- Capital
💡 Hint: Recall that the main factors focus on basic inputs.
Question 2
True or False: Capital refers only to financial resources.
- True
- False
💡 Hint: Think about what helps produce goods.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Evaluate the potential risks for an entrepreneur in starting a new venture involving high-tech capital.
💡 Hint: Consider all aspects of launching a new technology.
Question 2
Analyze a real-world scenario where labor and capital substitution occurred. Discuss its effects on the economy.
💡 Hint: Look into any recent technological advancements in industry.
Challenge and get performance evaluation