
4.1.4.7 Profit - video
Authored by James Hannaford
Social Studies
Professional Development
Used 2+ times

AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What symbol is commonly used to represent profit in economics?
Sigma
Alpha
Pi
Delta
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the basic equation for calculating profit?
Total Revenue - Total Cost
Variable Cost - Fixed Cost
Total Cost - Total Revenue
Fixed Cost - Variable Cost
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What additional cost do economists consider in the profit equation that accountants typically do not?
Sunk cost
Explicit cost
Marginal cost
Implicit cost
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the provided example, what alternative product could the companies have produced?
Desktops
Smartphones
Tablets
Televisions
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of profit is described as 'normal' in economic terms?
Negative economic profit
Positive economic profit
Zero economic profit
Variable economic profit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a 'super normal' profit indicate?
Loss
Profit below normal profit
Minimum profit level
Profit above normal profit
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should a company do if it is making less than normal profit according to economic theory?
Switch to producing the opportunity cost
Continue the same production
Increase product price
Reduce workforce
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
16 questions
Do you know me
Quiz
•
KG - Professional Dev...
18 questions
IS402-G1: Resource Curse
Quiz
•
KG - Professional Dev...
20 questions
Sustainable Tourism Development
Quiz
•
5th Grade - Professio...
20 questions
Penegak Hukum
Quiz
•
Professional Development
15 questions
PDPS Advanced Bank BTN
Quiz
•
Professional Development
14 questions
I-CORE Online Training Course- MODULE 02
Quiz
•
Professional Development
20 questions
Quick Revision_MPU3343
Quiz
•
University - Professi...
12 questions
UN & Human Rights
Quiz
•
10th Grade - Professi...
Popular Resources on Wayground
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
10 questions
Probability Practice
Quiz
•
4th Grade
15 questions
Probability on Number LIne
Quiz
•
4th Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
22 questions
fractions
Quiz
•
3rd Grade
6 questions
Appropriate Chromebook Usage
Lesson
•
7th Grade
10 questions
Greek Bases tele and phon
Quiz
•
6th - 8th Grade
Discover more resources for Social Studies
20 questions
Black History Month Trivia Game #1
Quiz
•
Professional Development
20 questions
90s Cartoons
Quiz
•
Professional Development
12 questions
Mardi Gras Trivia
Quiz
•
Professional Development
7 questions
Copy of G5_U5_L14_22-23
Lesson
•
KG - Professional Dev...
12 questions
Unit 5: Puerto Rico W1
Quiz
•
Professional Development
42 questions
LOTE_SPN2 5WEEK2 Day 4 We They Actividad 3
Quiz
•
Professional Development
15 questions
Balance Equations Hangers
Quiz
•
Professional Development
31 questions
Servsafe Food Manager Practice Test 2021- Part 1
Quiz
•
9th Grade - Professio...