Fixed and Variable Costs

Fixed and Variable Costs

9th - 12th Grade

10 Qs

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Fixed and Variable Costs

Fixed and Variable Costs

Assessment

Quiz

Other

9th - 12th Grade

Practice Problem

Medium

Created by

Netesh Dukanti

Used 80+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A ___ cost changes as the quantity of of goods produced changes.

Fixed Cost

Variable Cost

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A ___ remains unchanged even when the number of goods produced changes.

Fixed Cost

Variable Cost

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Span has 10 workers. Each worker is paid $5,000.00 every month. Workers wages/salary is an example of a ___.

Fixed Cost

Variable Cost

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Chris has 3 trucks. It costs her $1 for fuel for each kilometer (km) a truck covers. In May the trucks covered a total of 12 000 km and in June the trucks covered a total of 18 000 km. This is an example of a ___.

Fixed Cost

Variable Cost

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Materials used to produce goods are an example of ___.

Fixed Costs

Variable Costs

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Nicole has rented a building to setup her factory. Rent is an example of a ___.

Fixed Cost

Variable Cost

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Total Revenue = $50,000

Total Cost = $35,000

Which statement is correct?

The business made a loss of $15,000.

The business made a profit of $15,000.

The business made a profit of $85,000.

The business made a loss of $85,000.

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