
Cam Nat Enterprise: 2.1: Fixed and Variable Costs
Quiz
•
Business
•
9th Grade
•
Practice Problem
•
Hard
Lewis Lucas
FREE Resource
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes a fixed cost in a business?
A cost that changes with the level of output
A cost that remains the same regardless of output
A cost that only occurs when production stops
A cost that is paid only once
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a variable cost?
Rent for the factory
Wages paid to workers per unit produced
Insurance premium
Business rates
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of variable costs?
Costs that do not change with output
Costs that change directly with the level of output
Costs that are paid annually
Costs that are only paid if the business makes a profit
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a fixed cost?
Factory rent
Raw materials
Salaries of permanent staff
Insurance
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a fixed cost for a bakery?
Flour used for baking
Electricity used for ovens (if it increases with production)
Monthly rent for the shop
Packaging for each loaf sold
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a variable cost for a car manufacturer?
Depreciation of machinery
Steel used to make cars
Annual business licence fee
Factory security
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a business pays £1,000 per month for rent, regardless of how much it produces, this is an example of:
Variable cost
Fixed cost
Sunk cost
Marginal cost
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