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#### Production Analysis One Mark Questions

11th Standard

Reg.No. :
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Economics

Time : 00:30:00 Hrs
Total Marks : 15
15 x 1 = 15
1. The primary factors, of production are:

(a)

Labour and Organisation

(b)

Labour and Capital

(c)

Land and Capital

(d)

Land and Labour

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

3. Formula for calculating AP is

(a)

$\frac { \Delta TP }{ N }$

(b)

$\frac { \Delta TP }{ \Delta N }$

(c)

$\frac { TP }{ MP }$

(d)

$\frac { TP }{ N }$

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

(a)

J.B. Clark

(b)

Schumpeter

(c)

Knight

(d)

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

(a)

Consumption Function

(b)

Production Function

(c)

Savings Function

(d)

Investment Function

6. 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

7. 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

8. 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

9. An ISO - quant curve is also known as

(a)

Inelastic Supply Curve

(b)

Inelastic Demand Curve

(c)

Equi Marginal Utility

(d)

Equal Product Curve

10. _____________ is facilitated by transport and communication systems.

(a)

Time utilities

(b)

Place utilities

(c)

Form utilities

(d)

Possession utilities

11. _____________ said that 'exertion of body or mind' results in labour.

(a)

Alfred Marshall

(b)

Robbins

(c)

(d)

J.M. Keynes

12. Annual income flows are called _______________

(a)

Annual cost

(b)

Minimum cost

(c)

Annuities

(d)

Annual income

13. _____________ is a free gift of nature.

(a)

Land

(b)

Organisation

(c)

Capital

(d)

All of these

14. ________________ may be classified in to five kinds

(a)

External Economies

(b)

Economies of scale

(c)

Internal Economies

(d)

Modem Economy

15. _______________is the other name given for factor of production.

(a)

Inputs

(b)

Outputs

(c)

Exertion

(d)

Formation