DCC Eco 105 CH. 4 Quiz Review
Quiz
•
Social Studies
•
University
•
Hard
Bill Havranek
FREE Resource
12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1) In a bustling city, a new coffee shop owned by Ava is trying to establish itself in the market. A key assumption about the way Ava's coffee shop behaves is that it
A) maximizes market share.
B) minimizes costs.
C) maximizes revenue.
D) maximizes profit.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2) If Daniel is organizing a school event and the level of an input cannot be increased because there is insufficient time to put them in place, they are called
A) changeable input.
B) unchangeable input.
C) fixed input.
D) variable input.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
4) In a bakery, the source of the benefits of the division of labor is
A) the inefficiency that results from the fact that capital is fixed.
B) the fact that anytime you increase labor you get more output.
C) that when each worker is equally capable, each worker adds to production exactly the same as the previous one.
D) the efficiency that results from workers specializing in one aspect of production.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
5) Mason runs a small bakery and notices that as he hires more bakers, the additional output from each new baker decreases. The source of diminishing returns is
A) the inefficiency that results from the fact that the bakery's ovens and space are fixed.
B) the efficiency that results from bakers specializing in one type of pastry.
C) the fact that anytime Mason hires more bakers, he gets more pastries.
D) that when each baker is equally skilled, each baker adds to production exactly the same as the previous one.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
6) When a tech company like Samuel's Software Solutions hires more developers and becomes more efficient, they are benefiting from
A) the division of labor.
B) the law of large numbers.
C) diminishing marginal utility.
D) diminishing returns.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
7) When Daniel's bakery hires additional bakers and finds that each new baker contributes less to the total production of bread than the bakers hired before them, they are experiencing
A) the law of large numbers.
B) the division of labor.
C) diminishing returns.
D) diminishing marginal utility.
Create a free account and access millions of resources
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple

Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?
Similar Resources on Wayground
15 questions
SOSLIT_CCS
Quiz
•
University
10 questions
Đuổi Emoji bắt chữ - Guess Emoji
Quiz
•
University
15 questions
IIP301_Documentary Collection
Quiz
•
University
14 questions
Countries and capitals
Quiz
•
1st Grade - Professio...
10 questions
TARLAC PROVINCE OFFICIAL SEAL
Quiz
•
3rd Grade - University
10 questions
EcoS4 QuizzB
Quiz
•
University
17 questions
Ancient Rome vocab
Quiz
•
6th Grade - University
10 questions
BHMC2003 Quiz #8 Chapter 8 : Creative Strategies & Process
Quiz
•
University
Popular Resources on Wayground
20 questions
Brand Labels
Quiz
•
5th - 12th Grade
10 questions
Ice Breaker Trivia: Food from Around the World
Quiz
•
3rd - 12th Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
20 questions
ELA Advisory Review
Quiz
•
7th Grade
15 questions
Subtracting Integers
Quiz
•
7th Grade
22 questions
Adding Integers
Quiz
•
6th Grade
10 questions
Multiplication and Division Unknowns
Quiz
•
3rd Grade
10 questions
Exploring Digital Citizenship Essentials
Interactive video
•
6th - 10th Grade