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Post Test Production, Cost, and Perfect Competition
Authored by Ricky Suhartono
Social Studies
12th Grade - University
Used 1+ times
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38 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You own a lawn-care business and you have two employees. You pay these employees a salary meaning you pay each of these workers $900 every month no matter how much they work. This is an example of a...
fixed cost
variable cost
2.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Which of these are costs?
fixed
variable
operating
revenue
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You own a restaurant and every month you must pay your water bill. However, you never know how much that bill will be because the amount changes based upon how much water your business uses. This is a...
fixed cost
variable cost
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is the best definition of costs?
The total amount of income a business makes from selling products or services.
The amount of money a business has left over after paying for materials.
The total amount of money a business spends.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much profit was made?
Buy a toy for RF 100. Sell it for 400.
RF 200
RF 300
RF 400
RF 500
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Kelly makes and sells quilted blankets out of her home. She charges $50 per blanket. For each blanket she makes, she must spend $1 on thread, $2 in electricity and $12 on cloth. This month she made and sold 15 blankets. What is Kelly's total cost?
$25
$225
$375
$750
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Kelly makes and sells quilted blankets out of her home. She charges $50 per blanket. For each blanket she makes, she must spend $1 on thread, $2 in electricity and $12 on cloth. This month she made and sold 15 blankets. What is Kelly's total revenue?
$25
$225
$375
$750
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