Theory of Production
Assessment
•
Erina Stanley
•
Social Studies
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10th - 12th Grade
•
234 plays
•
Medium
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10 questions
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1.
Multiple Choice
The relationship between the factors of production and the output of goods and services.
Marginal Product
Law of Variable Proportions
Production Function
Stages of Production
2.
Multiple Choice
An increase in total production due to an increase of one unit of variable input is known as ______________________.
Marginal cost
Average cost
Marginal product
Average product
3.
Multiple Choice
When the total product is maximum, the marginal product is _________________.
positive.
zero.
negative.
maximum.
4.
Multiple Choice
Marginal product curve and the average product curve intersect _______________.
at the maximum point of the marginal product curve.
where total product is at a maximum.
where marginal product equals zero.
at the maximum point of the average product curve.
5.
Multiple Choice
A production function shows about the relationship between
Input and cost
Outputs and cost
Products and cost
Input and Output
6.
Multiple Choice
The average amount of output produced by each labor employed is
Total Product
Marginal Product
Average product
Production function
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