POB 4.03 Quiz

POB 4.03 Quiz

9th - 12th Grade

10 Qs

quiz-placeholder

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POB 4.03 Quiz

POB 4.03 Quiz

Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

Kimberly Monroe

Used 31+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is production?

The creation of goods and services from economic resources

Selecting inputs to make outputs

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

outputs

inputs

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In production, the purpose of the conversion process is to

control the costs of production.

turn inputs into outputs (products)

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Outputs that are sold to producers who will use them to make other products are called industrial goods. Which of the following outputs is considered an industrial good:

A freezer purchased by a restaurant owner

A textbook purchased by a college student

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"Efficient" production enables businesses to

turn out the most products at the least cost.

charge higher prices than competitors.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following outputs is considered an industrial good:

A textbook purchased by a college student

A freezer purchased by a restaurant owner

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The production activity used to obtain all the resources needed for production to take place is

purchasing

scheduling

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