
Business Costs
Authored by John Robinson
Social Studies
12th Grade

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25 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Types of cost in the curve are
Total, variable and fixed
Average and marginal
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
---------- resulting from a firm growing too large.
External Diseconomies
Internal Diseconomies
Internal Economies
External Economies
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What are fixed costs in a business?
Costs that vary with production levels
Costs that remain constant regardless of production levels
Costs that are incurred only once
Costs that are related to marketing
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is an example of a variable cost?
Rent
Salaries
Raw materials
Insurance
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the break-even point in business?
The point where total revenue equals total costs
The point where profit is maximized
The point where losses are minimized
The point where total costs are zero
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which cost is associated with the production of goods?
Administrative costs
Direct costs
Indirect costs
Sunk costs
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is opportunity cost?
The cost of the next best alternative foregone
The cost of all alternatives foregone
The cost of current opportunities
The cost of future opportunities
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