What are the costs of production?

Economics Flashcards

Flashcard
•
Business
•
11th Grade
•
Hard
Ghaya AlMarar
FREE Resource
Student preview

52 questions
Show all answers
1.
FLASHCARD QUESTION
Front
Back
The money spent on inputs (resources like labor, machinery) to produce outputs.
2.
FLASHCARD QUESTION
Front
What is Labor in the context of production?
Back
The focus of this lesson — how many workers to hire.
3.
FLASHCARD QUESTION
Front
Define Marginal Product (MP).
Back
The additional output produced by hiring one more worker.
4.
FLASHCARD QUESTION
Front
What are the types of returns in production?
Back
Increasing Returns, Diminishing Returns, Negative Returns.
5.
FLASHCARD QUESTION
Front
What happens during Increasing Returns?
Back
Total Product (TP) and Marginal Product (MP) both increase.
6.
FLASHCARD QUESTION
Front
What happens during Diminishing Returns?
Back
Total Product (TP) increases, but Marginal Product (MP) decreases.
7.
FLASHCARD QUESTION
Front
What happens during Negative Returns?
Back
Total Product (TP) and Marginal Product (MP) both decrease.
Create a free account and access millions of resources
Similar Resources on Quizizz
39 questions
AP Microeconomics- Unit 3

Flashcard
•
11th - 12th Grade
45 questions
UNIT 2 Review - Microeconomics: Prices and Markets

Flashcard
•
11th Grade
50 questions
AP Microeconomics Unit 3 Review

Flashcard
•
10th Grade - University
47 questions
Econ Unit 4

Flashcard
•
12th Grade
45 questions
Personal Finance 3

Flashcard
•
12th Grade
44 questions
AP Micro Unit 1

Flashcard
•
12th Grade
45 questions
AP CSP Vocabulary Midterm

Flashcard
•
11th Grade
50 questions
Economics Final Exam

Flashcard
•
12th Grade
Popular Resources on Quizizz
15 questions
Multiplication Facts

Quiz
•
4th Grade
25 questions
SS Combined Advisory Quiz

Quiz
•
6th - 8th Grade
40 questions
Week 4 Student In Class Practice Set

Quiz
•
9th - 12th Grade
40 questions
SOL: ILE DNA Tech, Gen, Evol 2025

Quiz
•
9th - 12th Grade
20 questions
NC Universities (R2H)

Quiz
•
9th - 12th Grade
15 questions
June Review Quiz

Quiz
•
Professional Development
20 questions
Congruent and Similar Triangles

Quiz
•
8th Grade
25 questions
Triangle Inequalities

Quiz
•
10th - 12th Grade
Discover more resources for Business
40 questions
Week 4 Student In Class Practice Set

Quiz
•
9th - 12th Grade
40 questions
SOL: ILE DNA Tech, Gen, Evol 2025

Quiz
•
9th - 12th Grade
20 questions
NC Universities (R2H)

Quiz
•
9th - 12th Grade
25 questions
Triangle Inequalities

Quiz
•
10th - 12th Grade
10 questions
Right Triangles: Pythagorean Theorem and Trig

Quiz
•
11th Grade
65 questions
MegaQuiz v2 2025

Quiz
•
9th - 12th Grade
10 questions
GPA Lesson

Lesson
•
9th - 12th Grade
15 questions
SMART Goals

Quiz
•
8th - 12th Grade