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Factors of production




WHAT IS ECONOMICS ABOUT

KYIV NATIONAL ECONOMIC UNIVERSITY

1. When was Kyiv National Economic University founded?

2. What faculties did the students study at Kyiv Commercial Institute?

3. Why was the University given the status of National Economic University?

4. What is Kyiv National Economic University?

5. What does Kyiv National Economic University provide?

6. What is the main purpose of the University?

7. What programmes does Kyiv National Economic University offer to the students?

8. What are the Bachelor’s degree and Master’s degree programmes aimed to?

9. What departments are there at the University?

10. What buildings and facilities belong to Kyiv National Economic University?

11. Where do the students have free access to?

12. What do the students have at the end of each term?

13. Where do the graduates of the University work?

1. What is economics?

2. What does economics study?

3. What different definitions of economics do you know?

4. Why is it impossible to define economics by a single word?

5. What does economics deal with?

6. What are the key terms of economics?

7. What does the term “need” mean?

8. What is “a want”?

9. What is “a demand”?

10. What is the difference between “a want” and “a need”?

11. What does economics deal with?

12. What are economic products?

13. What is the difference between goods and services?

14. What kinds of goods do you know?

15. What are consumer goods intended for?

16. What are capital goods?

17. What do services include?

18. What can you say about free products?

19. What does the term “value” mean in economics?

20. Why may utility vary from one person to another?

21. What does the term “wealth” mean in economics?

22. What is counted as wealth?

23. Why are services not counted as wealth?

24. What is country’s total worth?

1. What is the reason people cannot satisfy all their wants and needs?

2. What are the factors of production?

3. What does the term “land” mean?

4. What do economists think of land as a factor of production?

5. What does the term “labour” mean?

6. What is necessary for any country to grow?

7. What is labour in economic theory?

8. What is the national labour force?

9. What does the size of labour depend on?

10. Why does labour vary in size over time?

11. What is the difference between “land” and “labour”?

12. What are the major categories of labour?

13. What kind of work do unskilled workers perform?

14. What category do workers with mechanical ability fall into?

15. What kind of work do semiskilled workers perform?

16. What kind of work are skilled workers able to do?

17. What is professional labour?

18. What is a wage rate?

19. What are the factors affecting the wage rate?

20. What is the third factor of production?

21. What kinds of capital do you know?

22. What is the difference between physical and financial capital?

23. When does production take place?

24. What is entrepreneurship?

25. What role do the entrepreneurs play?

26. What does the employer receive instead of wages?




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