
Understanding Fixed and Variable Costs
Interactive Video
•
Business
•
7th - 10th Grade
•
Practice Problem
•
Hard
Emma Peterson
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main topic discussed in the video?
Fixed and variable costs
The history of economics
Marketing techniques
Investment strategies
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a fixed cost?
Cost of raw materials
Employee wages
Rent of the premises
Utility bills
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the average fixed cost calculated?
By dividing total fixed costs by the number of units produced
By multiplying total fixed costs by the number of units produced
By adding total fixed costs to total variable costs
By subtracting total variable costs from total fixed costs
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What defines a variable cost?
A cost that remains constant regardless of production levels
A cost that changes with the level of production
A cost that is incurred only once
A cost that is fixed annually
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a variable cost in a hamburger business?
Cost of lettuce
Cost of buns
Monthly rent
Cost of cheese
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you calculate the average variable cost?
By subtracting total fixed costs from total variable costs
By adding total variable costs to total fixed costs
By multiplying total variable costs by the number of units produced
By dividing total variable costs by the number of units produced
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the total cost of production?
Only the variable costs
Only the fixed costs
The difference between fixed and variable costs
The sum of fixed and variable costs
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