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Measure skillsfrom any curriculum
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from any curriculum
Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
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31 questions
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- Q1total revenues minus explicit costs, including depreciationaccounting profit30s
- Q2profit divided by the quantity of output produced; also known as profit marginaverage profit30s
- Q3total cost divided by the quantity of outputaverage total cost30s
- Q4variable cost divided by the quantity of outputaverage variable cost30s
- Q5expanding all inputs proportionately does not change the average cost of productionconstant returns to scale30s
- Q6general rule that as a firm employs more labor, eventually the amount of additional output produced declinesdiminishing marginal productivity30s
- Q7the long-run average cost of producing output increases as total output increasesdiseconomies of scale30s
- Q8total revenues minus total costs (explicit plus implicit costs)economic profit30s
- Q9the long-run average cost of producing output decreases as total output increaseseconomies of scale30s
- Q10out-of-pocket costs for a firm, for example, payments for wages and salaries, rent, or materialsexplicit costs30s
- Q11resources that firms use to produce their products, for example, labor and capitalfactors of production30s
- Q12resources that firms use to produce their products, for example, labor and capitalinputs30s
- Q13an organization that combines inputs of labor, capital, land, and raw or finished component materials to produce outputsfirm30s
- Q14cost of the fixed inputs; expenditure that a firm must make before production starts and that does not change regardless of the production levelfixed cost30s
- Q15factors of production that can't be easily increased or decreased in a short period of timefixed inputs30s