Year 10 Economics Week 3 Quiz

What is the result of optimisation/maximisation in an organisation according to the text?

• Decrease in the total cost of items produced

• Increase in the per unit cost of items

• Reduction in the quantity of output

• Reduction in the per unit cost of items as costs are spread over more items

Which of the following is NOT a way through which a business can work towards productivity improvements?

• Just-in-time

• Capital investment

• Market speculation

• Big data

What is one of the methods mentioned for productivity improvement that involves the use of advanced machinery?

• Training

• Robotics

• Flexible workplaces

• Organisational structures

Which method for improving productivity is related to the enhancement of skills and knowledge of employees?

• Innovation

• Technology

• Training

• Capital investment

What is one of the advantages of the Just In Time (JIT) approach?

• Increases storage costs

• Reduces the ability to switch production

• Improves reputation by having minimal impact on the environment

• Relies heavily on accurate and timely ordering

Which of the following is a disadvantage of the Just In Time (JIT) system?

• Production should flow without interruptions

• Ability to switch production with minimal waste of stock

• Less time to check quality of inputs as they are immediately required

• Improves reputation by having minimal impact on the environment

How might Just In Time (JIT) affect delivery costs?

• Delivery costs may decrease due to less frequent deliveries

• Delivery costs are not affected by JIT

• Delivery costs may increase with more frequent deliveries

• Delivery costs may decrease due to improved quality control

What is technology?

• The study of ancient cultures

• The application of scientific knowledge for practical purposes, especially in industry

• A branch of philosophy that deals with the nature of beauty

• The process of investing money for profit

What are machinery and equipment developed from?

• Economic theories

• Artistic creativity

• The application of scientific knowledge

• Historical research

What is the focus of the case study mentioned in the material?

• The history of Domino's Pizza

• Domino's use of technology to evaluate efficiency, effectiveness, and productivity

• The marketing strategies of Domino's Pizza

• The menu items of Domino's Pizza