Ch 10: ILTS Business: Economics of a Firm

About This Chapter

Let us teach you about the economics of a firm. The video lessons and self-assessment quizzes in this chapter can prepare you to answer questions about the economics of a firm on the ILTS Business, Marketing and Computer Education content area test.

ILTS Business, Marketing and Computer Education - Economics of a Firm: Chapter Summary

Explore economic stabilization policy and its role in smoothing out the business cycle through this chapter on economics of a firm. This is just one topic that might be covered on the Illinois Licensure Testing System (ILTS) Business, Marketing and Computer Education content area exam, which is part of the teacher certification process in that state. We can help you prepare for the ILTS through its series of brief video lessons, which cover the following topics:

  • Real output, price output and the real gross domestic product
  • Law of marginal diminishing returns
  • Production cost
  • Economies of scale

ILTS Business, Marketing and Computer Education - Economics of a Firm Objectives

Prospective business, marketing and computer education teachers in Illinois need to earn certification through the Illinois State Board of Education. One step in the certification process is passing the ILTS Business, Marketing and Computer Education content area test. Questions about economics of a firm are likely to be included in the exam's subarea on economics, consumer economics and career development. This is one of six subareas that comprise the 125 multiple-choice-question exam.

In addition to the video lessons, which you can watch as many times as you need, this chapter includes a series of quizzes that can help you prepare for the ILTS Business, Marketing and Computer Education exam. These quizzes can help you gauge your skill level, as well as introduce you to the types of questions you might find on the actual test.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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