Question Paper
Class / Subject: Class 8 (CBSE) · Social Science
Chapter: Chapter 7 — Chapter 7: Factors of Production
Time Allowed: 32 minutes
Max Marks: 16
1. What is land, as a factor of production? [1]
(A) Natural resources like soil and minerals
(B) Only buildings
(C) Only money
(D) Only machinery
2. What is labour? [1]
(A) Human effort, physical and mental
(B) Only machines
(C) Only money
(D) Only land
3. What is capital? [1]
(A) Man-made resources like machinery and money
(B) Natural resources only
(C) Human effort only
(D) Nothing specific
4. What are the three factors of production? [1]
(A) Land, labour and capital
(B) Only land and labour
(C) Only capital and labour
(D) Only land and capital
5. What is an example of capital? [1]
(A) A tractor
(B) A farmer's effort
(C) Soil
(D) Water
6. What is an example of labour? [1]
(A) A farmer's effort
(B) A tractor
(C) Soil
(D) Money
7. What is an example of land? [1]
(A) Soil
(B) A tractor
(C) A farmer's effort
(D) Money invested
8. How do these three factors relate to each other? [1]
(A) They work together to produce goods and services
(B) They work independently, never together
(C) Only one factor is ever needed
(D) They cancel each other out
9. What is entrepreneurship considered? [1]
(A) A fourth factor of production
(B) Only a hobby
(C) Not important to the economy
(D) A type of natural resource
10. What does an entrepreneur organise? [1]
(A) Land, labour and capital
(B) Only capital
(C) Only labour
(D) Nothing specific
11. What do entrepreneurs often do? [1]
(A) Innovate new products or services
(B) Avoid all risks
(C) Ignore business opportunities
(D) Copy others exactly, without change
12. What does innovation help drive? [1]
(A) Economic growth and job creation
(B) Economic decline
(C) Nothing important
(D) Only personal wealth
13. What does entrepreneurship involve? [1]
(A) Risk-taking
(B) No risk at all
(C) Guaranteed success always
(D) Avoiding all challenges
14. What should entrepreneurs do if a venture fails? [1]
(A) Learn from failure and adapt
(B) Give up on business forever
(C) Ignore the failure
(D) Blame others only
15. What does successful entrepreneurship contribute to? [1]
(A) A country's economic development
(B) Nothing significant
(C) Only personal wealth, no wider effect
(D) Economic decline
16. Why is entrepreneurship important to study? [1]
(A) It shows how businesses and innovation drive the economy
(B) No reason
(C) Only for tests
(D) It's not useful