A2 econ C4-6 vocabulary

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Across
  1. 3. Refers to dividing produciton into different tasks and having workers focus on a specific tasks
  2. 4. A period of time in which all factors of production are variable
  3. 5. The total cost of production divided by the quanitty produced
  4. 9. The total revenue divided by the quantity produced
  5. 11. increasing quantities of a variable input are combined with a fixed input, eventually the marginal product will decline
  6. 12. the cost added by increasing production
Down
  1. 1. A situation in which increasing output results in lower average cost
  2. 2. A situation in which increasing output increases average cost
  3. 6. The price times the quanitity
  4. 7. The revenue added by increasing output
  5. 8. Revenue-cost
  6. 10. A period of time in which at least one factor of production is fixed