POB 4.03 Quiz
Quiz
•
Business
•
9th - 12th Grade
•
Medium
Kimberly Monroe
Used 31+ times
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10 questions
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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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