Producer Behaviour and Supply Quiz
Ready to take the quiz?
Test takers will enter name and email before starting.
Preview questions
1. What is the primary objective of a producer in a market economy?
Maximize utility · Maximize profit · Minimize costs · Maximize revenue
2. Which of the following is NOT a factor of production?
Land · Labor · Capital · Wealth
3. The law of supply states that, all else being equal, an increase in price results in what?
Decrease in quantity supplied · Increase in quantity supplied · No change in quantity supplied · Decrease in supply
4. What type of cost does not change with the level of output?
Variable cost · Total cost · Fixed cost · Marginal cost
5. Which of the following curves represents the relationship between price and quantity supplied?
Demand curve · Supply curve · Marginal cost curve · Average cost curve
Related quizzes
View all EconomicsClass XII Economics Quiz: Open Economy Macroeconomics
Open Economy Macroeconomics
Producer Behaviour and Supply Quiz
Producer Behaviour and Supply
Producer Behaviour and Supply Quiz
Producer Behaviour and Supply
Producer Behaviour and Supply Quiz
Producer Behaviour and Supply
Class XII Economics Quiz - Introduction
Introduction
Open Economy Macroeconomics Quiz
Open Economy Macroeconomics