11th Grade Economics test

It is the sum of fixed and variable costs

• total costs

• total revenue

• marginal revenue

• labor productivity

It is the extra cost of producing one more unit

• total revenue

• variable costs

• marginal costs

• low costs

It is a set of rules or laws designed to control business behavior

• business code of law

• business and prices control

• regulation

• government prices control

It is a tax on the making or selling of certain goods or services

• supply tax

• sell tax

• production tax

• excise tax

It is the amount of goods and services that a person can produce in a given time.

• labor productivity

• business productivity

• firm productivity

• company productivity

They are the price of the resources used to make products

• price market

• price resources

• price cost

• imput cost

It occurs when a change in the marketplace prompts producers to sell different amounts at every price

• change in supply

• supply cost

• change in production

• change in cost

It is the level of production at which a business realizes the greatest amount of profit

• price production

• cost production

• profit- maximizing output

• profit production

It is a company´s income from selling its products

• maximum profit

• total revenue

• company profit

• firm profit

It is the money made from the sale of each additional unit of output

• price revenue

• cost revenue

• marginal revenue

• output revenue