Busy. Please wait.
Log in with Clever
or

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever
or

Username is available taken
show password

Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.

Factor Markets

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
        Help!  

Question
Answer
Name the four factors of production   show
🗑
show Rent  
🗑
What is the return on labour?   show
🗑
show Interest  
🗑
What is the return on enterprise?   show
🗑
show Derived  
🗑
What are specific & non-specific factors?   show
🗑
What is marginal revenue productivity?   show
🗑
What portion of the MRP curve is the demand curve for labour?   show
🗑
show The wage of each worker is equal to to the MRP of the last worker  
🗑
Why do firms hoard labour?   show
🗑
show Diminishing marginal return, and the law of demand  
🗑
show The extra output produced when one extra unit of a factor of production is employed  
🗑
show Productivity of a factor, marginal revenue, the law of demand  
🗑
show Quality of factors, education provided, expertise of entrepreneur, diminishing marginal returns  
🗑
Why is MRP difficult to calculate?   show
🗑
Name the four factors of production   show
🗑
show Rent  
🗑
show Wages  
🗑
What is the return on capital?   show
🗑
What is the return on enterprise?   show
🗑
What kind of demand do factors of production have?   show
🗑
What are specific & non-specific factors?   show
🗑
show The extra revenue earned when an additional unit of a factor of production is employed  
🗑
show The downwards sloping section  
🗑
show The wage of each worker is equal to to the MRP of the last worker  
🗑
Why do firms hoard labour?   show
🗑
Why does the MRP curve slope downwards from left to right?   show
🗑
show The extra output produced when one extra unit of a factor of production is employed  
🗑
show Productivity of a factor, marginal revenue, the law of demand  
🗑
Name 4 factors which affect MPP.   show
🗑
show Contribution of capital/labour is hard to gauge, some services are not sold on the market  
🗑
show MPP * Price  
🗑
show MRP*MR  
🗑
Define supply price   show
🗑
show What a factor must earn to stop it from transfering to its next best alternative employment  
🗑
show Productivity of the factor. Length of time under consideration.  
🗑
Define economic rent   show
🗑
Define quasi economic rent   show
🗑


   

Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
 
To hide a column, click on the column name.
 
To hide the entire table, click on the "Hide All" button.
 
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
 
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.

 
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how
Created by: JackEatonK98
Popular Economics sets