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Unit 2.11: Multiple choice quiz (SL units)
1. Which one of the following statements is incorrect?
2. Labour productivity is defined as
3. In which one of the following situations is there not a rise in productivity?
4. The productivity of capital is increased by each of the following with the exception of
5. Investment in new technologically-advanced capital equipment is likely to result in
6. Specialisation results in each of the following with the exception of
7. The benefits of specialisation depend on
8. The extent of division of labour is determined by
9. Which one of the following statements is not a reason why money is a more efficient medium of
exchange than barter?
10. Fixed costs are costs that are fixed
Use the information contained in the table to answer question 11
| Output | Total Cost |
| 1,000 | 100,000 |
| 2,000 | 180,000 |
| 3,000 | 240,000 |
11. From the table we can infer that as output has increased there has been:
1. a rise in the total costs.
2. a rise in the average costs.
3. A fall in the average costs.
4. A rise in profits
12. Technical economies of scale refer to lower average costs arising from, for example,
13. Larger businesses benefit from financial economies of scale, for example, by
14. A large firm benefits by spreading its advertising budget over a larger volume of output. This is an example of
15. A business is benefiting from a sustained increase in sales and decides to produce more by
employing larger machines. This is an example of
16. The benefits of external economies of scale can arise when
17. Which of the following statements is correct?
18. Diseconomies of scale can arise when
19. Which one of the following is not a factor in the U shape associated with a short-run average cost curve?
20. Profit per unit is equal to
The questions are available as a PDf file at: 
Quiz questions
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