What is Short-Run Production? - Definition & Examples

Instructions:

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

question 1 of 3

Which of the following is NOT a good definition or example of short-run production?

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1. What rule says that too much of a good thing is bad when it comes to increasing outputs?

2. Describe what happens to the short-run production curve of a coffee shop that hires its second employee.

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About This Quiz & Worksheet

Short-run production is an analytical concept that allows economists to study the effect of variable factors on a business or company's output, or production, of goods or services. With the help of these quiz and worksheet tools, you can strengthen your grasp of the elements of short-run production analysis, and the types of ideas and information it can provide.

Quiz & Worksheet Goals

These assessments help you understand the following factors involved in short-run production:

  • Aspects of short-run production
  • The effect of a moderate increase in labor on short-run production
  • The first goal of business
  • Extreme increases in variable factors such as labor
  • The result of increasing labor or resources beyond what is required for efficient production

Skills practiced

  • Interpreting information - verify that you can read information about short-run production and interpret it correctly
  • Information recall - access your knowledge on short-run production
  • Knowledge application - use your understanding of short-run production to explain how it is used to analyze businesses

Additional Learning

To learn more, read the accompanying lesson, What is Short-Run Production? - Definition & Examples. This lesson will help you accomplish the following goals:

  • Understand how short-run production is used in business
  • List examples of fixed factors in short-run production
  • Describe variable factors involved in short-run production
  • Explain the significance of diminishing returns
  • Cite examples of short-run production
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