
BASIC CONCEPT ECONOMY MANUFACTURING

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University
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emadellarifai rifai
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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
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
What the suitable answer for (C) ?
Firm
Factory
Household
Buyer
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