
Costs of Production Quiz
Quiz
•
Business
•
10th Grade
•
Practice Problem
•
Hard
Suhana M
FREE Resource
Enhance your content in a minute
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
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Explain the concept of economies of scale in the long term.
Decrease in production efficiency by increasing scale of production in the long term
No impact on production costs by increasing scale of production in the long term
Cost disadvantages achieved by increasing scale of production in the long term
Cost advantages achieved by increasing scale of production in the long term
9.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Describe the concept of diseconomies of scale in the long term.
Costs per unit increase as the company grows in size
Diseconomies of scale only occur in the short term
There are no cost increases as the company expands
Costs per unit decrease as the company grows in size
Similar Resources on Wayground
10 questions
OCR Business 2.2 Market Research
Quiz
•
10th - 11th Grade
12 questions
SGS Business 1.2.3 Market Segmentation
Quiz
•
9th - 11th Grade
13 questions
1.5.4 - The economy and businesses
Quiz
•
9th - 10th Grade
10 questions
Planning Function
Quiz
•
10th - 12th Grade
10 questions
LA FUNCIÓN COMERCIAL DE LA EMPRESA
Quiz
•
10th Grade
10 questions
Accounting 1
Quiz
•
9th - 12th Grade
10 questions
Chapter 11 Accruals and prepayments
Quiz
•
10th - 11th Grade
10 questions
Costing Basics - Unit 1 - Introduction 1
Quiz
•
9th - 12th Grade
Popular Resources on Wayground
10 questions
Honoring the Significance of Veterans Day
Interactive video
•
6th - 10th Grade
9 questions
FOREST Community of Caring
Lesson
•
1st - 5th Grade
10 questions
Exploring Veterans Day: Facts and Celebrations for Kids
Interactive video
•
6th - 10th Grade
19 questions
Veterans Day
Quiz
•
5th Grade
14 questions
General Technology Use Quiz
Quiz
•
8th Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
15 questions
Circuits, Light Energy, and Forces
Quiz
•
5th Grade
19 questions
Thanksgiving Trivia
Quiz
•
6th Grade
