Global MCQ Practice

🌐 Total MCQ
Home > Economics > Production > Productivity > Productivity – Quiz 1
🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books

Productivity Quiz 1 (25 MCQs)

Quiz Instructions:

Select an option to see the correct answer instantly.

1. Production involves converting inputs (e.g. raw materials, labour) into outputs (things to sell).
2. In our "playdough economics" activities, what represented improved capital resources?
3. A person opened a booth at a flea market to sell clothing. This is an example of which factor of production?
4. Which of the following pairs of countries have come the closest to having a purely command economic system?
5. What does a cost-benefit analysis compare?
6. Production can be carried out more efficiently by using
7. What effect does the lack of competition in command economies have?
8. Production means manufacturing something in order to sell it
9. The mixer, oven and decorating machine they use are examples of:
10. In a bank there are tellers, loan officers, and managers. Which economic concept does this arrangement demonstrate?
11. Becky, Betty and Bob run a cupcake shop. Becky makes the cupcakes, Betty decorates them and Bob sells them. The different jobs they have is an example of:
12. A product or service is scarce when
13. Which of the following types of economies is most likely to develop new and better products?
14. The outputs (finished goods) produced through production should have an exchangeable value-they need to be something that can be sold.
15. What is Switzerland's main natural resource?
16. An advantage of Job production is
17. In a command economy, which of the following determines for whom goods and services are produced?
18. Labour productivity could be increased by all of the following except:
19. Which of the following is a want?
20. What are the central concerns of economics?
21. Which of the following is NOT an example of a government induced source of structural change?
22. Baker buying 1000 pounds of flour for his business
23. In the cupcake business above, Becky, Betty and Bob each have different jobs because they want to:
24. In command economies, who makes the final decision whether to produce cheap cars for the working class or luxury cars for the rich and powerful?
25. To be responsible with our money, we need to not only spend money wisely but also
Next →

Related Quizzes

🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books