Professional Documents
Culture Documents
Production Function Class 11 Important Question
Production Function Class 11 Important Question
(A) Economics
(B) Business Management
(C) Commerce And Industry
(D) All Of These
Show Answer
(D) All Of These
Q2. Which Is Not Considered As An Economic Activity ?(A) Banking
(B) Sujata Helping Her Mother In The Kitchen
(C) Agriculture
(D) Business
Show Answer
(B) Sujata Helping Her Mother In The Kitchen
(A) 2
(B) 3
(C) 5
(D) 6
Show Answer
(C) 5
(A) Sociology
(B) Geography
(C) English
(D) An Art
Show Answer
(D) An Art
(A) Political
(B) Economic
(C) Religious
(D) None Of These
Show Answer
(B) Economic
Show Answer
(C) Political Equilibrium
Show Answer
(D) Collection Of Dat(A).
Q8. Data Collected For The First Time From The Source Of Origin Is
Calle(D). …,…..
Show Answer
(A) Primary Data
Show Answer
(D) None Of These
(a) Bowley
(b) Bodington
(c) Gottfried Achenwall
(d) None of these.
Show Answer
(b) Bodington
(a) Facts
(b) Presentation
(c) Numerical data
(d) None of these.
Show Answer
(b) Presentation
(a) Economics
(b) Varta
(c) Krishna, Valmiki and Vashista
(d) None of these.
Show Answer
(a) Economics
Show Answer
Father
Show Answer
Intensity
Show Answer
Statistics
Show Answer
Science
Show Answer
7
Q18. There are limited wants of humans.
Show Answer
False
Show Answer
False
Show Answer
True
Show Answer
(d) All of these.
(a) Categorisation
(b) Tabulation
(c) Both (a) and (b)
(d) None of these.
Show Answer
(a) Categorisation
Q3. Which law should be kept is mind while and making tables:
Show Answer
(d) All of these.
Show Answer
(b) White paper
Show Answer
(a) Every first year of every decade
Q6. State another name of Random Sampling:
Show Answer
(d) All of these.
(a) Categorisation
(b) Tabulation
(c) Both (a) and (b)
(d) None of these.
Show Answer
(a) Categorisation
Q8. Which law should be kept is mind while and making tables:
Show Answer
(d) All of these.
Show Answer
(b) White paper
Show Answer
Researcher
Show Answer
Census of India
Show Answer
Chronological
Show Answer
Tabulation
Q14. Bar diagram is a ………………………… diagram.
Show Answer
Unit
Show Answer
Two
Show Answer
A bivariate distribution is the frequency distribution of two variables.
Show Answer
It is a method of data collection in which data are collected for each and every
unit of the population which constitutes the subject matter of the study.
Show Answer
A sample refers to a group or section of the population from which data are
obtained.
Q19. What is Random sampling?
Show Answer
Method in which each and every item of the universe has an equal chance of
being selected in the sample is called Random sampling.
Show Answer
In Non – Random sampling every individual does not have an equal chance of
being selected.
Question 1
Does Total Physical Product increase only when Marginal Physical Product
increases?
Answer:
False, because when Total Physical Product increases Marginal Physical Product
decreases but remains positive.
Question 2
What will be the marginal product when the total product is maximum?
Answer:
Marginal Product will be zero when the total product is maximum.
Question 3
Total Physical Product is derived from Marginal Physical Product by?
(a) Cumulative addition
(b) Cumulative subtraction
(c) Cumulative product
(d) Cumulative Division
Answer:
(a) Cumulative addition
Question 4
What do you mean by production?
Answer:
Production is the method of producing or developing goods or services in large
quantities with the help of various materials.
Question 5
Increase in Total Physical Product indicates that there are increasing returns to a
factor. Comment.
Answer:
No, the total physical product also rises when the returns to a factor decrease.
Question 6
When the returns to a factor decline the marginal and the total product also
decline?
Answer:
False, when returns to a factor decline only Marginal Physical Product declines.
Question 7
Evaluate the marginal product for the following.
Marginal Product 0 5 8 10 5 0 -4
Question 8
Why does the Average Fixed Cost curve never touch the “x” axis though it lies
very close to the x-axis?
Answer:
The Average Fixed Cost Curve (AFC) never touches the “x” axis though it lies
very close to the x-axis because Total Fixed Cost can never be zero.
Question 9
Production function shows a technical relationship between physical input and
output of a commodity.
(a) A technological relationship between inputs and cost
(b) The economic relationship between inputs and cost
(c) A technological relationship between inputs and output
(d) A technological relationship between inputs and price
Answer:
(c) A technological relationship between inputs and output
Question 10
The shape of the Total Physical Product short run is
(a) Inverse U-Shaped
(b) U-Shaped
(c) Hyperbola
(d) V-Shaped
Answer:
(a) Inverse U-Shaped
Question 11
In the short run Total Product Price changes with the change in which of the
following factors.
(a) Economic Cost
(b) Fixed Cost
(c) All the factors
(d) Variable Cost
Answer:
(d) Variable Cost
Question 12
When TVC is zero at zero levels of output, what happens to TFC or why TFC is
not zero at zero level of output?
Answer:
When TVC is zero at zero levels of output, what happens to TFC or why TFC is
not zero at zero levels of output because the fixed cost is to be acquired even at
zero levels of output.
Question 13
What is a change in quantity demanded?
Answer:
It is a change along a demand curve. The change is due to a change in price and
quantity of a commodity. The two types of change in quantity demand are
Extension in demand and Contraction in demand.
Question 14
Define cost concept. What are the different types of cost?
Answer:
The spending experienced on different inputs is known as the cost.
The different types of cost are as follows:
Money Cost- Total money spent by a company for manufacturing goods.
Explicit Cost & Implicit Cost- Payment made to an outsider are explicit and cost
of self-supplied inputs are implicit cost.
Real Cost- All hard work, discomforts, sacrifices involved in manufacturing a
product is called real cost.
Opportunity Cost- This the cost for the next best alternative foregone.
Short Run Cost- Fixed cost- Fixed factors cost
Variable Cost– Variable factor cost
Question 15
Explain the relation between Average Cost and Marginal Cost.
Answer:
The relation between Average Cost and Marginal Cost
1. When Average Cost decreases, Marginal Cost declines faster than the Average
Cost. So, that Marginal Cost curve remains lower than the Average Cost curve.
This means Average Cost > Marginal Cost.
2. When Average Cost increases, Marginal Cost rises faster than the Average
Cost. So, that MC curve is above the Average Cost curve.
3. Marginal Cost curve intersects Average Cost curve from its lowest point. When
the average curve is minimum then Marginal Cost=Average Cost.