Efficiency and Production (HSC SSCE Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What does productivity measure in economic terms?
What does productivity measure in economic terms?
Output generated per unit of input
How does productivity differ from production?
How does productivity differ from production?
Productivity needs output to rise more than input
Which benefit results from increased productivity?
Which benefit results from increased productivity?
Lower production costs per unit
What are the three types of specialisation?
What are the three types of specialisation?
Division of labour, location, large-scale
Which example illustrates division of labour?
Which example illustrates division of labour?
Assembly-line car production tasks
What causes internal economies of scale?
What causes internal economies of scale?
Firm expanding below technical optimum
Which factor causes internal diseconomies of scale?
Which factor causes internal diseconomies of scale?
Management losing touch with operations
What is the technical optimum for a firm?
What is the technical optimum for a firm?
Most efficient level with lowest costs
What effect does learning by doing have?
What effect does learning by doing have?
Shifts LRAC curve downward
What distinguishes external economies of scale?
What distinguishes external economies of scale?
Result from industry growth, not firm size