BASIC CONCEPT ECONOMY MANUFACTURING

BASIC CONCEPT ECONOMY MANUFACTURING

University

10 Qs

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BASIC CONCEPT ECONOMY MANUFACTURING

BASIC CONCEPT ECONOMY MANUFACTURING

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

"The process of converting raw materials, components, or parts into finished goods that meet a customer's expectations or specifications."

The above statement refer to:

Manufactturing economy

Manufacturing

Production

operation

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which of the following NOT explain the three main key point to define the manufacturing.

Making Something

Making money (profit) on what you make

Making less for economic purpose

Making a lot of them

3.

FILL IN THE BLANK QUESTION

45 sec • 5 pts

Manufacturing costs represent ........................ the expenses necessary to make the product. The cost sensitive to changes in production volume.

4.

FILL IN THE BLANK QUESTION

45 sec • 5 pts

Production costs reflect ....................... of the expenses associated with a company conducting its business. Costs of production include many of the fixed and variable costs of operating a business.

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which of the following statement are TRUE to explain the economic efficiency

i. aims to minimize input.

ii. happens when the production cost of an output is as high as possible.

iii. mainly depends on the prices related to the factors of production

iv. aims to minimize costs

i and ii

ii, iii and iv

iii and iv

ii and iii

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Media Image

What the suitable answer for (A) and (B)

A)Firm

B) Good & services

A) Household

B) labor

A) Bank

B) Material

A) Customer

B) Machine

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Media Image

What the suitable answer for (C) ?

Firm

Factory

Household

Buyer

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