Search Header Logo

Costs of Production Quiz

Authored by Suhana M

Business

10th Grade

Costs of Production Quiz
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

9 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are fixed costs in the short term?

Variable costs that change with the level of sales

Costs that increase with the level of production

Expenses that only occur in the long term

Expenses that do not change regardless of the level of production or sales

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a variable cost in the short term? A) Rent B) Employee salaries C) Property taxes D) Insurance

A) Rent

C) Property taxes

D) Insurance

B

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do you calculate total cost in the short term?

By subtracting fixed costs from variable costs

By multiplying fixed costs with variable costs

By dividing fixed costs by variable costs

By adding up all the fixed and variable costs incurred during that period.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are diseconomies of scale in the long term?

Short-term increase in average cost of production

Decrease in average cost of production

No change in average cost of production

Long-term increase in average cost of production

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the short term, which of the following is considered a fixed cost? A) Raw materials B) Machinery maintenance C) Utilities D) Employee wages

B) Machinery maintenance

C) Utilities

A) Raw materials

D) Employee wages

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a variable cost in the short term? A) Property taxes B) Insurance C) Raw materials D) Rent

B) Employee salaries

D) Utilities

A) Property maintenance

C) Raw materials

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula to calculate total cost in the short term?

Total Cost = Fixed Costs - Variable Costs

Total Cost = Fixed Costs / Variable Costs

Total Cost = Fixed Costs + Variable Costs

Total Cost = Fixed Costs x Variable Costs

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?