Factors of Production
CBSE · Class 8 · Social Science
Practice quiz for Factors of Production — CBSE Class 8 Social Science. MCQs and questions with answers to test your preparation.
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What are the four factors of production?
What does the word 'land' mean in economics?
Which best describes labour in production?
What is the definition of skill?
Sample Questions
What is capital in economics?
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Any asset, whether physical or financial, used to produce goods and services
Capital includes money and also human-made assets such as machinery, tools, equipment and buildings used in production.
Who is an entrepreneur?
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A person who comes up with an idea, takes risks, gathers other factors of production and works hard to make the business successful
Entrepreneurship means starting a business or creating something new to solve a problem. An entrepreneur combines resources and takes risks.
What is the meaning of productivity?
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Ability to do more in a particular time period
Productivity means doing more work or producing more output in a given time.
What does the Adult Literacy Rate measure?
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Percentage of people aged 15 and above who can read and write with understanding a short, simple statement about their everyday life
Adult literacy rate is defined as the percentage of people aged 15 and above who can read and write with understanding a short, simple statement.
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Sources & Official References
- NCERT Official — ncert.nic.in
- CBSE Academic — cbseacademic.nic.in
- CBSE Official — cbse.gov.in
- National Education Policy 2020 — education.gov.in
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