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