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BUSINESS AS UNIT 1 ENTERPRISE AND ENTREPRENEURSHIP Question and answers 100% correct 2026

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Institution BUSINESS AS UNIT 1 ENTERPRISE AND ENTREPRENEURSHIP
Course BUSINESS AS UNIT 1 ENTERPRISE AND ENTREPRENEURSHIP
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BUSINESS AS UNIT 1 ENTERPRISE AND ENTREPRENEURSHIP Question and answers 100% correct 2026 What are the 4 factors of production - correct answer Land, Labour, Capital and Enterprise What is land - correct answer Natural resources and the land which a business stands, physical/extractable, premises of the business What is capital - correct answer Money for business purposes, finance invested in the firm by owners/shareholders, human made machines What is labour - correct answer People who work in a business, firms employees, contribute to the production process What is enterprise - correct answer Ability to spot a business opportunity and take risks to organise the factors of production, art of bringing together the factors of production What does CCEA call factors of production - correct answer Business resources What is reward for land - correct answer Rent What is reward for labour - correct answer Wages What is reward for capital - correct answer Interest What is reward for enterprise - correct answer Pro

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BUSINESS AS UNIT 1 ENTERPRISE
AND ENTREPRENEURSHIP Question
and answers 100% correct 2026
What are the 4 factors of production - correct answer ✔Land, Labour, Capital and Enterprise



What is land - correct answer ✔Natural resources and the land which a business stands,
physical/extractable, premises of the business



What is capital - correct answer ✔Money for business purposes, finance invested in the firm by
owners/shareholders, human made machines



What is labour - correct answer ✔People who work in a business, firms employees, contribute to the
production process



What is enterprise - correct answer ✔Ability to spot a business opportunity and take risks to organise
the factors of production, art of bringing together the factors of production



What does CCEA call factors of production - correct answer ✔Business resources



What is reward for land - correct answer ✔Rent



What is reward for labour - correct answer ✔Wages



What is reward for capital - correct answer ✔Interest



What is reward for enterprise - correct answer ✔Profit

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