Factors Of Production

Question 1

What are the four factors of production?

Answer 1

Land, labour, capital, enterprise

Question 2

Which factor includes airports for Ryanair?

Answer 2

Land

Question 3

What does Land refer to in the factors of production?

Answer 3

Natural resources used in production, including agricultural land, forests, minerals, and water.

Question 4

What does Labour refer to in the factors of production?

Answer 4

The human effort involved in production, both physical and intellectual work.

Question 5

What does Capital refer to in the factors of production?

Answer 5

Physical assets like tools, equipment, machinery, buildings, and financial capital for investments and operations.

Question 6

What does Enterprise refer to in the factors of production?

Answer 6

The entrepreneurial ability to combine land, labour, and capital to create and deliver goods or services.

Question 7

How does Ryanair use Land in its operations?

Answer 7

Ryanair uses airports and related facilities like runways, terminals, and maintenance areas across Europe.

Question 8

How does Ryanair use Labour in its operations?

Answer 8

Ryanair employs pilots, cabin crew, ground personnel, and administrative workers for its daily operations.

Question 9

How does Ryanair use Capital in its operations?

Answer 9

Ryanair’s capital includes its fleet of aircraft, booking systems, IT infrastructure, and maintenance equipment.

Question 10

How does Ryanair use Enterprise in its operations?

Answer 10

Ryanair’s leadership drives strategy, decision-making, and innovation to deliver low-cost air travel.