4.03 Role of Production

4.03 Role of Production

9th - 12th Grade

25 Qs

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4.03 Role of Production

4.03 Role of Production

Assessment

Quiz

Business

9th - 12th Grade

Practice Problem

Medium

Created by

Fran Clark

Used 103+ times

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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is production?

The selection of inputs for making outputs
The process of assembling the factors of production
The conversion process that results in time utility
The creation of goods and services from economic resources

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of production?

Reading a new novel
Purchasing food items
Providing home security
Answering your home telephone

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The specific resources used in a company�s production are called

Inputs
Consumer goods
Outputs
Conversion processes

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In production, the purpose of the conversion process is to\:

Control the costs of production
Find markets for the firm's products
Turn inputs into products
Turn outdated products into new ones

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What kind of conversion process is being used in an automated assembly line that produces soft drinks?

Batch
Labor-intensive
Unit
Capital-intensive

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following outputs is considered an industrial good\:

A freezer purchased by a restaurant owner
A gallon of milk purchased by a family
A textbook purchased by a college student
A sewing machine purchased for home use

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

One of the benefits of production to consumers is that production\:

Makes use of automation
Provides a way to earn profits
Creates form utility
Provides a way to be competitive

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