Economics Quiz on Technology and Costs

Economics Quiz on Technology and Costs

Professional Development

51 Qs

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Economics Quiz on Technology and Costs

Economics Quiz on Technology and Costs

Assessment

Quiz

Business

Professional Development

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Created by

Trần Thị Mai Sau

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51 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a technological change in economics?

Increase in the number of workers

Change in the production process that increases output

Decrease in input costs

Increase in product price

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of technological change?

Hiring more workers

Using robots instead of manual labor

Leasing new buildings

Increasing advertising spending

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Technological advancement typically:

Raises the marginal cost of production

Shifts the average total cost curve upward

Increases output with the same amount of inputs

Decreases labor productivity

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The introduction of automation in a factory is:

A capital increase

A technological change

A supply shift

A marginal cost

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Technological change results in:

Higher fixed costs

Less efficient production

A new production function

Increased prices

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the short run:

All factors of production are variable

Firms can enter or exit the industry

At least one input is fixed

There is no cost

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The long run is defined as a period in which:

Marginal cost equals price

Firms are not making profits

All inputs are variable

Output is constant

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