Review Questions

SECTION 5: FACTORS OF PRODUCTION AND ORGANISATION


Question 1

Which of the following is not a factor of production?

1. capital
2. Natural resources
3. human resources
4. productivity

The Number For Your Answer is:   

Question 2


Which of the following industries can be considered an extractive industry?

1. Forestry in Belize
2. Jewellery making in Guyana
3. Tourism in Barbados
4. export level

The Number For Your Answer is:   


Question 3


At the subsistence level of production, a group of people would ensure their existence by engaging in:

1. manufacturing industry
2. extractive industry
3. constructive industry
4. service industry

The Number For Your Answer is:   


Question 4


A country produces goods and services in order to maintain its internal trade. It is operating at:

1. Subsistence level
2. surplus
3. domestic level
4. export level

The Number For Your Answer is:   


Question 5


The labour force of a country may be described as:

1. the total population of a country
2. all persons over a prescribed age who are employed and who are employable
3. the total population who are skilled or semi skilled
4. all persons over a prescribed age who are employed or are looking for employment

The Number For Your Answer is:   


Question 6


Capital as a factor of production may be defined as;

1. money that has been saved and can be invested in the production of goods and services
2. a tangible asset that has value and can be stored
3. anything of value that has been stored from past production and utilized in further production
4. the total fixed and current assets of an organization

The Number For Your Answer is:   


Question 7


Which of the following paired activities does not exemplify the principle of linkage industry?

1. taxi service and tourism
2. fruit growing and canning
3. handicraft and restaurant services
4. leather tanning and shoemaking

The Number For Your Answer is:   


Question 8


Which of the following statements does not relate to the law of diminishing returns?

1. it refers to inputs of production.
2. it refers to the increase or decrease in value of input
3. it refers to stated periods of time
4. it refers to efficiency in the use of resources

The Number For Your Answer is:   


Question 9


Automation in the workplace has resulted in:

1. relieving managers from having to make decision;
2. a reduction in amount of paper work;
3. the employment of specialized workers;
4. the employment of a larger labour force

The Number For Your Answer is:   


Question 10


Which of the following territories are best known for timber production?

1. Barbados and Anguilla
2. Trinidad and Tobago
3. Belize and Guyana
4. Guyana and Barbados

The Number For Your Answer is:   


Question 11


Identify the extractive and service industries which are common to Anguilla and Barbados

1. oil and air transport
2. oil and tourism
3. Fishing and tourism
4. Fishing and offshore banking

The Number For Your Answer is:   


Question 12


The entrepreneur responsible for all of the following except:

1. raising capital to run the business
2. appointing members to the board of directors
3. ensuring that there is an efficient staff of empoloyees
4. bringing about change where it is necessary for the success of the organization

The Number For Your Answer is:   


Question 13


Identify the statement that is inconsistent with the definition of domestic production.

1. domestic production encourages the exploitation of local resources
2. some Caribbean territories operate at the level of domestic production
3. domestic production supports international trade
4. domestic production encourages international trade

The Number For Your Answer is:   


Question 14


Which of the following about subsistence production is true?

1. it provides for the basic needs of man
2. it is no longer practiced in any economies of the western world
3. it supports international trade
4. countries in which it is practiced enjoy a higher per capita income

The Number For Your Answer is:   


Question 15


In all countries where surplus production takes place people are sure to benefit in all ways except:

1. in the availability of a variety of goods and services
2. in the process of deciding what to produce
3. in the relatively high level of employment;
4. in the right to choose in the market place.

The Number For Your Answer is:   


Question 16


Which of the industries listed below in the Caribbean region is the most capital-intensive?

1. Communications
2. Bauxite
3. Sugar
4. Construction

The Number For Your Answer is:   


Question 17


Identify the industry listed below that is most labor-intensive in the Caribbean region:

1. Caribbean
2. Bauxite
3. Communications
4. Sugar

The Number For Your Answer is:   


Question 18


Oil and asphalt ate produced in:

1. Antigua
2. Trinidad
3. Barbados
4. Guyana

The Number For Your Answer is:   


Question 19


Which of the following is a renewable resource?

1. oil
2. water
3. iron ore
4. natural gas

The Number For Your Answer is:   


Question 20


Productivity measures which of the following?

1. Economic growth
2. the rate of unemployment
3. the cost of production
4. the rate of production

The Number For Your Answer is:   


Your score is: %     
 
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