A small fishing business catches fish at sea. A crew member hauls the nets, a fishing vessel carries the catch, and the owner risks her own money while organising the business.
Which statement identifies two factors of production correctly?
Sea as capital and crew member as land
Sea as land and fishing vessel as capital
Crew member as capital and owner as land
Fishing vessel as enterprise and owner as labour
81 exam-style questions on AQA GCSE Economics 1.1 Economic foundations, covering 1.1.1a Needs and wants, 1.1.1b The central purpose of economic activity, 1.1.1c Key economic decisions, 1.1.1d The main economic groups, 1.1.2a The nature of an economic resource, 1.1.2b The four factors of production, 1.1.3a The basic economic problem and making choices, and 1.1.3b Opportunity cost. Each one has a worked solution and a mark scheme showing where the marks go.