Bussiness

Question 1

Factors of production are the

Answer 1

economic resources

Question 2

Resources needed in Business

Answer 2

Land
Labor
Capital
Entrepreneur

Question 3

is the exertion of human effort to acquire an income.

Answer 3

Labor

Question 4

It includes all forms of human exertion both mental and physical talent as well as the ability to Produce goods and services.

Answer 4

Labor

Question 5

Aside from agricultural lands, these include mineral deposits, forest, wildlife, water, air and climate.

Answer 5

Land

Question 6

Man-made production tools that includes equipment, machinery, building and other infrastructure.

Answer 6

Capital

Question 7

The one, who combines and manages all economic resources, combines the land, labor and capital in an optimum mix.

Answer 7

Entrepreneur

Question 8

The overall manager in the production process.

Answer 8

Entrepreneur

Question 9

defines production as the exertion of effort to obtain the needed goods and wealth.

Answer 9

Webster

Question 10

the exertion of effort to obtain the needed goods and wealth.

Answer 10

Production

Question 11

are entrepreneurs who might be holding a public ofice or in the private sector.

Answer 11

Innovators

Question 12

They monitor changes in social, economic and technological directions. They spot opportunities before everyone else do,

Answer 12

Innovators are trendsetters

Question 13

They gain an edge by the way they search and develop new ideas.

Answer 13

Innovators are idea-oriented people.

Question 14

In a fast-charging world, innovations use their intuition as sixth sense.

Answer 14

Innovators have fighting instincts.

Question 15

They buck the odds in pursuit of their dreams. Their passion for ideas helps them overcome even the unimaginable difficulties

Answer 15

Innovators are amazingly persistent.

Question 16

They see no walls in implementing new ideas, only bridges and opportunities

Answer 16

Innovators are resourcefiul.

Question 17

They regularly ask their customers group how they regard the product/s and continuously improve them

Answer 17

Innovators arw feed back-oriented.

Question 18

They are humble enough to admit they cannot do it alone

Answer 18

Innovators are team players

Question 19

Build its whole economy

Answer 19

Government
Private sector

Question 20

regulates business and provides the delivery of basic services

Answer 20

government

Question 21

is the main engine of which puts in land, labor, and capital to produce goods and services.

Answer 21

private sector