Factors of Production Worksheet
A Grade 3 social studies worksheet on the factors of production: land, labor, capital, and entrepreneurship.
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Factors of Production
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Read each question carefully and answer to the best of your ability.
1. Which of these is an example of 'land' as a factor of production?
A factory building
A tractor
A forest
A worker
2. What is 'labor' in economics?
Money
The work people do
Machines
Natural resources
3. The things we use to make goods and services are called factors of .
4. A farmer's field is an example of .
5. Tools and machines used to make things are called .
6. Name the four factors of production.
7. An entrepreneur is someone who takes risks to start a business.
True
False
8. Money is considered 'capital' because it is used to buy goods and services.
True
False