11th Standard EM - Economics - Production Analysis

Buy 11th Economics MCQ Online Test Practice test pack

Question - 1

The primary factors, of production are:

  • A Labour and Organisation
  • B Labour and Capital
  • C Land and Capital
  • D Land and Labour

Question - 2

The man-made physical goods used to produce other goods and services are referred to as

  • A Land
  • B Labour
  • C Capital
  • D Organization

Question - 3

Formula for calculating AP is

  • A \(\frac { \Delta TP }{ N } \)
  • B \(\frac { \Delta TP }{ \Delta N } \)
  • C \(\frac { TP }{ MP } \)
  • D \(\frac { TP }{ N } \)

Question - 4

Which factor is called the changing agent of the Society

  • A Labourer
  • B Land
  • C Organizer
  • D Capital

Question - 5

Who said, that one of the key of an entrepreneur is "uncertainty-bearing"

  • A J.B. Clark
  • B Schumpeter
  • C Knight
  • D Adam Smith

Question - 6

The functional relationship between "inputs" and "outputs" is called as

  • A Consumption Function
  • B Production Function
  • C Savings Function
  • D Investment Function

Question - 7

In a firm 5 units as factors produce 24 units of the product. When the number of factor increases by one, the production increases to 30 units. Calculate the Average Product

  • A 30
  • B 6
  • C 5
  • D 24

Question - 8

The short-run production is studied through

  • A The Law of Returns to scale
  • B The Law of Variable Proportions
  • C ISO - quants
  • D Law of Demand

Question - 9

The long-run production function is explained by

  • A Law of Demand
  • B Law of Supply
  • C Returns to Scale
  • D Law of Variable Proportions

Question - 10

An ISO - quant curve is also known as

  • A Inelastic Supply Curve
  • B Inelastic Demand Curve
  • C Equi Marginal Utility
  • D Equal Product Curve