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Cam Nat Enterprise: 2.1: Fixed and Variable Costs

Authored by Lewis Lucas

Business

9th Grade

Used 1+ times

Cam Nat Enterprise: 2.1: Fixed and Variable Costs
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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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