Intro Management Unit 5 Common Assessment

Intro Management Unit 5 Common Assessment

11th - 12th Grade

30 Qs

quiz-placeholder

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Intro Management Unit 5 Common Assessment

Intro Management Unit 5 Common Assessment

Assessment

Quiz

Business

11th - 12th Grade

Medium

Created by

John Adams

Used 1+ times

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30 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turn outdated products into new ones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

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

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is production important to businesses?

It enables businesses to charge high prices

It eliminates competition

It creates goods and services businesses can sell

It informs businesses about consumers' needs and wants

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Efficient production enables businesses to

charge higher prices than competitors

obtain advance orders for goods and services

make an accurate forecast of sales

turn out the most products at the least cost

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