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- 1. Multiple Choice
Which of the following is NOT true with production process
firms adding value to a product
transforming raw materials into finished goods
provision of a product or service
providing only a product, not service
- 2. Multiple Choice
Which of these is a service?
jogging shoes
plumbing
readymade dress
birthday cake
- 3. Multiple Choice
What does productivity mean?
productivity is how products are made
productivity is a measure of how many workers a business has
productivity measures efficiency
productivity measures effectiveness
- 4. Multiple Choice
Which of these isn't a method of improving productivity?
employing more staff
providing pay incentives
investing in up-to-date machinery
training staff
- 5. Multiple Choice
Which of the following statements is correct?
the level of production is the total number of goods produced per worker
productivity can be measured by output per worker in a given time period
increasing production leads to increased productivity
reducing productivity per worker will increase the number of workers
- 6. Multiple Choice
One of the benefits of increasing productivity is:
more workers will be employed
total production will increase with the same number of workers
average costs will stay the same
fewer raw materials will be needed to produce the same level of output
- 7. Multiple Choice
Labour productivity could be increased by all of the following except:
using more technologically advanced machines
increasing the amount of automation
improved training of workers
employing more workers to produce the same level of output
- 8. Multiple Choice
Which of the following is the best definition of 'an increase in efficiency'?
higher output levels than last year
lower total costs of production
fewer workers employed but output level remains the same
10% more workers employed and output also rises by 10%
- 9. Multiple Choice
Which one of the following is NOT a factor of production?
land
table
capital
enterprise
- 10. Poll
How do you rate today's lesson
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Satisfactory
- 11. Multiple Choice
What is most likely to lead to an improvement in labour productivity in an industry?
an increase in capital investment
an increase in income tax rates
an increase in the demand for the industry’s product
an increase in the number of firms in the industry
- 12. Multiple Choice
What is a disadvantage to employers of switching to production using division of labour?
average cost decreases
flexibility of workers is lost
repetition of tasks saves time
training time decreases
- 13. Multiple Choice
What is an advantage to a country of having an efficient commercial banking system?
It controls the money supply
It discourages spending
It encourages tax evasion
It enables investment
- 14. Multiple Choice
Country X provides computers to help teachers in the classroom. How would this technology increase the economic potential of country X?
It improves the quality of human resources.
it reduces the amount of land required for education
It removes the need for teachers
It requires more teachers to do the same work.
- 15. Multiple Choice
What is the main difference between capital-intensive production and labour-intensive production?
the market structure of the production process
the output that the production process creates
the resources on which the production relies
the size of the firm that uses the production process
- 16. Multiple Choice
Which change will make a manufacturing company replace labour with capital to maintain the most efficient combination of factors of production?
The price of machinery has increased.
The productivity of labour has increased.
The productivity of machinery has increased.
The supply of labour has increased
- 17. Multiple Choice
Which change will make a manufacturing company replace machines with labour to maintain the most efficient combination of factors of production?
The price of the product manufactured has increased
The productivity of labour has increased.
The productivity of machinery has increased.
The wages of labour have increased.
- 18. Multiple Choice
Producing a desired result without wasting time, energy, money, or other resources.
Efficiency
Productivity
Input
Output
- 19. Multiple Choice
A way of doing something.
Efficiency
Input
Process
Output
- 20. Multiple Choice
The amount of something that is produced
Input
Efficiency
Productivity
- 21. Multiple Choice
Resources being used to make the output
Input
Productivity
Output
Process
- 22. Multiple Choice
Resources being produced, and it is the final product.
Input
Ouput
Process
- 23. Multiple Choice
If productivity increases, commodity (a good) can be produced faster.
True
False
- 24. Multiple Choice
Productivity is measured in _________ or ________
time or resources
hours worked or number of workers
cm or inches
buying in bulk or revenue
- 25. Multiple Choice
The demand for the product increase then declines over a certain period of time.
Output
Input
Law of Diminishing Return
Productivity
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