Question 1 Jessica is a violinist who believes she can extend her method of learning music to early childhood education. She opens a preschool in her hometown, using her expertise to form an arts-based program. What factor of production is this?
Capital
Entrepreneurship
Labor
Land
Question 2 Joseph Unahue made his fortune in
men's professional attire
digital technology
food distribution
stock options
Question 3 A university has just hired additional faculty and staff. Who of the following is most likely to earn the highest pay?
Chemistry professor with a doctoral degree
Economics graduate student teaching assistant
Education lecturer with a master's degree
Classics department office manager with a bachelor's degree
Question 4 Your friend lacks the financial capital to start a business. You offer to help him and he accepts. You and your friend create a
sole proprietorship
conglomerate
corporation
partnership
Question 5 Which of the following is the least profitable investment for a game shop earning $2 profit from every game sold?
Vehicle with $120 daily operating cost, delivering 80 games per day
Inventory software with $10 daily operating cost, saving 30 games per day from theft
Game cleaning system with $5 daily operating cost, increasing sales by 15 games per day
Electronic billboard with $20 daily operating cost, increasing sales by 20 games per day