Directions: Use a separate sheet in answering the test.

1. It is your profit per item.

A. Deduction C. Markdown

B. Income D. Mark Up

2. Markup divided by (÷) the selling price

A. Percentage of the MarkDown C. Markdown

B. Percentage of the Mark Up D. Mark Up

3. It refers to the total cost incurred by a business to produce a specific

quantity of a product or offer a service.

A. Cost of Production C. Expenses

B. Deduction D. Income
4. It refers to the variable cost + fixed cost.

A. Average Cost C.Marginal Cost

B. Fixed Cost D. Total Cost

5. It refers to the total cost of production divided by the number of units

produced.

A. Average Cost C.Marginal Cost

B. Fixed Cost D. Total Cost

6. It is the cost of producing one additional unit of output.

A. Average Cost C.Marginal Cost

B. Fixed Cost D. Total Cost

7. Rent is an example of ___________ cost.

A. Average Cost C.Marginal Cost

B. Fixed Cost D. Total Cost

8. These are costs that change with the changes in the level of production.

A. Fixed Cost C. Total Cost

B. Marginal Cost D. Variable Cost

9. Utility cost is an example of ____________ cost.

A. Fixed Cost C. Total Cost

B. Marginal Cost D. Variable Cost

10. X has a carenderia, the fixed cost of X’s carenderia is 5,000.00, and the

variable cost is 125,000.00. What is the total cost of the Production?

A. 125,000.00 C. 130,000.00

B. 128,000.00 D. 140,000.00​