3.1.5 - Production: Creating Goods and Services
Enroll to start learning
You’ve not yet enrolled in this course. Please enroll for free to listen to audio lessons, classroom podcasts and take practice test.
Practice Questions
Test your understanding with targeted questions
What are the main factors of production?
💡 Hint: Think about what resources are needed to make goods.
Define 'production' in your own words.
💡 Hint: Consider what is involved in making products.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What are the four main factors of production?
💡 Hint: Remember the acronym for inputs.
True or False: Higher productivity typically leads to lower living standards.
💡 Hint: Think about the outcomes of efficiency.
1 more question available
Challenge Problems
Push your limits with advanced challenges
Consider a local business that has recently adopted advanced manufacturing technology. Discuss how this change could affect the factors of production and productivity.
💡 Hint: Focus on how technology reshapes traditional roles.
A new startup has emerged in your area focused on sustainable goods. Evaluate how it utilizes the factors of production to create its products differently than conventional businesses.
💡 Hint: Think about sustainable practices compared to traditional methods.
Get performance evaluation
Reference links
Supplementary resources to enhance your learning experience.