Business and Economics - Key Terms

Key Terms test

?

1. What are 'Fixed Costs'?

  • Costs that you only have to pay once
  • Costs that repair damages
  • Cost that don't change with output
  • Costs that change every month
1 of 11

Other questions in this quiz

2. 'GDP' stands for 'Gross Domestic Product'

  • True
  • False

3. 'GDP' is the total output of the economy per year

  • True
  • False

4. What is an 'Asset'?

  • Things that a company owns that have value
  • A type of motivation
  • All the business
  • All the broken equipment

5. What is 'Liquidity'?

  • All the business costs.
  • A type of water
  • The ability of a business to pay its bills
  • How easily business operations flow into the next financial year

Comments

Hannah

Report

Nice one :) Realising i need to do more revision, thankyou

Similar Business Studies & Economics resources:

See all Business Studies & Economics resources »