Factors of Production คะแนนรวม 15/15

Select TRUE if sentence is TRUE.

Select FALSE if sentence is FALSE.

PRODUCTION is the process of transforming raw materials to *1/1

produce outputs or final product.

TRUE

FALSE

Below is the suggested flow of PRODUCTION PROCESSS: *1/1

1.) Raw material – 2.) Consumer  – 3.) Distribution –  4.) Production

Process

TRUE

FALSE

LAND as a factor of production includes natural resources like *1/1

rocks, sand, water, trees, minerals etc.

TRUE

FALSE

ENTREPRENUER as a factor of production includes tools, *1/1

equipment, and even machines used in the production.

TRUE

FALSE

CAPITAL factor of production talks about individuals with skills *1/1

regarding business or marketing.

TRUE

FALSE

PRIMARY PRODUCTION: The first level of production process; *1/1

collecting of raw materials through work or machines. 

TRUE

FALSE

SECONDARY PRODUCTION: The final level of production process; *1/1

the distribution process of final products. 

TRUE

FALSE

Producers must consider hiring only their friends who can help in *1/1
their business and ignore other skilled applicants.

TRUE

FALSE

Producers must feel shame when they commit something wrong *1/1
against the customers. 

TRUE

FALSE

Capital means ONLY the machinery and technology used in the *1/1
production process. 

TRUE

FALSE

To do effective production, producers must waste their resources, *1/1

their time and their money.

TRUE

FALSE

One can turn their expertise to produce products they can sell.  * 1/1

TRUE

FALSE

Providing an after-sale service is just an option; producers can *1/1

choose not provide it to their valued customers.

TRUE

FALSE

Effective production also means one should consider using the *1/1
same old tools in production even if it means a lot of repairs for it.
This is because the tool/machine is now part of company/business
culture.

TRUE

FALSE

There are four factors of production: Land, Labor, Capital, *1/1

Entrepreneur.

TRUE

FALSE

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