Practice Tools, Machines, Buildings (1.2.3) - The Story of Village Palampur

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10 questions

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6 sample questions

Question 1.
What are the four requirements for production?
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Think of the acronym LLPC.
Question 2.
Give an example of physical capital.
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Consider items that last for years and help in production.
3Question 3.
What does physical capital include?
- Natural resources
- Tools and buildings
- Stock equipment
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Think about what tools and machines you might find in a factory.
4Question 4.
True or False: Human capital refers to the physical tools used in production.
- True
- False
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Remember the roles of workers versus tools.
Question 5.
Analyze how an efficient combination of land, labour, and physical capital can lead to increased production in a sustainable farm.
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Consider the practices that improve the synergy of the inputs.
Question 6.
Discuss the impact of technological change on physical capital in manufacturing.
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Think about what happens when factories upgrade their machines.

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