Which term is associated with the concept of efficiency in production?
chapter 9

Quiz
•
World Languages
•
11th Grade
•
Hard
Sara Miguel
FREE Resource
16 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Equilibrium wage
Derived demand
Productivity
Resource substitutes
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What term describes the efficiency with which inputs are converted into outputs?
Derived demand
Productivity
Equilibrium wage
Resource substitutes
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term is used to describe goods that are used together in production?
Resource complements
Derived demand
Equilibrium wage
Productivity
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the relationship between productivity and output?
Productivity is unrelated to output
Productivity is the value of the output produced
Productivity decreases as output increases
Productivity is the cost of output
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the result of a worker producing more?
Decreased value to the firm
Increased value to the firm
No change in value
Reduced demand for the product
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the labor market diagram, what happens at the intersection of the supply and demand curves?
Surplus of labor
Shortage of labor
Equilibrium in the labor market
Increase in wages
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the context of the labor market diagram, what does a shift to the right of the demand curve indicate?
Decrease in demand for labor
Increase in demand for labor
Decrease in supply of labor
Increase in supply of labor
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