Understanding Long-Run Production Decisions in Economics Video

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Radio Shack is an example of a company doing which of the following?

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 79,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access

1. Long-run production is best defined as which of the following?

2. The Kikkoman company has been successful in business since the 17th Century due to which of the following?

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

About This Quiz & Worksheet

This quiz/worksheet combo helps you quickly assess your understanding of examples of long-run production. You will need to define long-run production in order to pass the quiz.

Quiz & Worksheet Goals

Students can use both of these assessments to gauge their knowledge of:

  • The definition of long-run production
  • Examples of long-run production
  • Calculating long-run production
  • Why the costs in the long run are considered to be variable

Skills Practiced

You can practice the following skills by utilizing this worksheet and quiz:

  • Information recall - access the knowledge you have gained regarding the definition of long-run production
  • Reading comprehension - ensure that you draw the most important information from the related lesson on long-run production
  • Critical thinking - apply relevant concepts to examine information about long-run product in a different light

Additional Learning

If you want to learn more information about long-run production, review the lesson titled Understanding Long-Run Production Decisions in Economics. This lesson covers the following objectives:

  • Compare and contrast long-run production and short-run production
  • Understand the importance of innovation
  • Review examples of long-run production
  • Determine how long-run production decisions are made
Support