Review for Checkpoint 3 - T2- G10

The difference between the selling price of a product and the cost of making it, is known as _____.

• (a)  Production

• (b)  Input

• (c)  Added value

• (d)  Natural resources

What type of resources are land, oil, coal, water, and gold?

• (a)  Natural resources

• (b)  Human resources

• (c)  Raw resources

• (d)  Capital

What is a benefit of productivity?

• (a)  Value-added input is created

• (b)  Output is part of the production process

• (c)  Increased output with minimal input

• (a)  Decreased output with maximum input

One of the responsibilities of the production department is to buy the necessary inputs for the production process. It also needs to check that the right amount of output is available.

 

Which function of the production department is this?

• (a)  Production and planning

• (b)  Purchasing and stock control

• (c)  Design and technical support

• (d)  Operations

The production department uses computer systems to help the production process.

 

Which business department helps with this?

• (a)  Finance

• (b)  Human Resources

• (a)  Information Technology (IT)

• (b)  Marketing

Which method of production is used when similar products are made together in groups?

• (a)  Job production

• (b)  Batch production

• (c)  Flow production

• (d)  Market production

Customers can choose different toppings and bases when they order pizza from Pizza Hut.

 

Which method of production is used?

• (a)  Job production

• (b)  Batch production

• (c)  Flow production

• (d)  Market production

What type of business cost(s) remain the same regardless of output?

• (a)  Fixed costs

• (b)  Variable costs

• (c)  Total cost

• (d)  Average cost

What happens when a business makes break-even?

• (a)  The business makes a loss

• (b)  The business makes a profit

• (c)  The business does not make a profit or a loss

• (d)  The business has added value

Trendy Tablets produces 40,000 tablets per day and employs 20 workers.

 

What is the labor productivity for Trendy Tablets?

• (a)  20

• (b)  400

• (c)  2,000

• (d) 40,020