What Do You Know About Production? Trivia Quiz

5 Questions | Total Attempts: 45

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What Do You Know About Production? Trivia Quiz

Business is centered in production, which is a process of transforming inputs into goods or services that are sent out to the market or prospective customers. According to the business classes, how well have you understood the production process and what is needed for it to go smoothly? This quiz is to test student’s ability on how much they know about production, which is a significant aspect of the business.


Questions and Answers
  • 1. 
    What is production?
    • A. 

      The allocation of resources

    • B. 

      The creation of goods and services

    • C. 

      The exchange of goods and services

  • 2. 
    What is the purpose of production?
    • A. 

      To satisfy human wants ONLY

    • B. 

      To satisfy human needs ONLY

    • C. 

      To satisfy BOTH wants and needs

    • D. 

      None of the above

  • 3. 
    What are the factors of production?
    • A. 

      Primary factor, secondary factor, tertiary factor

    • B. 

      Subsistence, domestic, export

    • C. 

      Land, labour, capital, enterprise/entrepreneur

  • 4. 
    Which of the following is the reward for land?
    • A. 

      Profit

    • B. 

      Rent

    • C. 

      Wages

    • D. 

      Interest

  • 5. 
    Which of the following is the reward for labour?
    • A. 

      Interest

    • B. 

      Profit

    • C. 

      Wages/salaries

    • D. 

      Rent

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