This quiz works best with JavaScript enabled. Home > Economics > Production > Productivity > Productivity – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Productivity Quiz 4 (9 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Who was the author of "The Wealth of Nations" ? A) Andrew Carnegie. B) Thomas Jefferson. C) Voltaire. D) Adam Smith. Show Answer Correct Answer: A) Andrew Carnegie. 2. For whom are goods and services in a market economy? A) Whomever the government decides should get them. B) Those who both have the money and who are willing to spend it for the goods and services that they want. C) For the government officials. D) The traditional consumers. Show Answer Correct Answer: A) Whomever the government decides should get them. 3. When markets or governments make economic decisions about how to most efficiently convert their resources into goods and services, what basic economic question are they answering? A) For whom to produce?. B) How much money should be printed?. C) How to produce?. D) What to produce?. Show Answer Correct Answer: C) How to produce?. 4. Which of the following is an example of microeconomics. A) Economics of government. B) Economics of an individual. C) Economics of industry. D) Economics of society. Show Answer Correct Answer: B) Economics of an individual. 5. Which of the following is NOT an advantage of being productive? A) Maximize use of scarce resources. B) You may get paid less because the job took less time. C) Increase customer satisfaction. D) Lower cost of production. Show Answer Correct Answer: B) You may get paid less because the job took less time. 6. * Productivity is a way of measuring how efficiently a company or an economy is producing its output. A) Yes, I understand this from the notes. B) No, I don't understand this from the notes. C) No, I don't understand this, as I have not read the notes. D) None of above. Show Answer Correct Answer: A) Yes, I understand this from the notes. 7. An examples of flow production is? A) Making Pringles. B) Customer Service. C) Making Jewellery. D) Housing. Show Answer Correct Answer: A) Making Pringles. 8. Goods used to create other goods A) Consumer good. B) Producer goods. C) Final service. D) Intermediate goods. Show Answer Correct Answer: B) Producer goods. 9. You vacuum the house, your sister cleans the bathroom, and your father folds the laundry. This is an example of: A) Opportunity cost. B) Scarcity. C) Division of labor. D) Productive capacity. Show Answer Correct Answer: C) Division of labor. ← PreviousRelated QuizzesProduction QuizzesEconomics QuizzesProductivity Quiz 1Productivity Quiz 2Productivity Quiz 3 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books