Economics Chapter 9 Review

In economic terms, worker specialization is likely to lead to

Which of these actions is an investment in human capital?

Which of the following business expenses is most likely to vary each month?

Dividing total output by total input is a way to measure

When total revenues exceed total costs, a business has registered

Output per unit of input

Reduced unit costs achieved in factories

Which expense is most likely a fixed cost?

A measure of the goods and services available

An investment in a college education is an investment in

When total cost exceeds total revenues, a business has registered

Highways, airports, and other facilities

Business spending for facilities and equipment

The main purpose of using division of labor is to

Which of the following is most likely to improve a company's productivity

Value of final goods and services produced in a given period of time