Factors of Production Worksheet
An educational worksheet for Grade 5 Social Studies students focusing on understanding the four 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. This worksheet will help you understand the four factors of production: land, labor, capital, and entrepreneurship.
1. Which factor of production includes all natural resources used to produce goods and services?
Labor
Land
Capital
Entrepreneurship
2. A factory building and the machines inside it are examples of which factor of production?
Land
Labor
Capital
Entrepreneurship
3. The human effort, both mental and physical, used to produce goods and services is called .
4. A person who takes a risk to start a new business and combine the other factors of production is an .
5. Money is considered a factor of production called capital.
True
False
6. A farmer's field is an example of the 'land' factor of production.
True
False
7. Give an example of 'labor' in a school setting.
8. How does an 'entrepreneur' contribute to the economy?
Match each factor of production with its description.
9. Land
a. Tools, machines, and buildings
10. Labor
b. Natural resources
11. Capital
c. Human effort
12. Entrepreneurship
d. Risk-taking and innovation