Pop Quiz - Costs, economies of scale and break-even analysis (Chapter 16 IGCSE)

Business Studies IGCSE Chapter 16

This pop quiz covers essential concepts from the “Costs, Scale of Production, and Break-even Analysis” topic. It is designed to assess students’ understanding of various business cost classifications, including fixed and variable costs, and the significance of total and average costs in decision-making. Additionally, the quiz evaluates knowledge of economies and diseconomies of scale, highlighting how business growth can impact average costs positively or negatively. Finally, it includes questions on break-even analysis, a key tool used by businesses to determine the production level needed to cover costs, calculate the margin of safety, and support pricing and production decisions. This quiz reinforces foundational business concepts crucial for evaluating costs, scale efficiencies, and profitability strategies.