CBSE  /  Class 11  /  Economics  /  Production and Costs

  • 1. 
    Which of the following is a saurce of production ?

  • Land
  • Labour
  • Capital
  • All of these

  • 2. 
    Law of variable proportion is related to :

  • Both short-run and long run
  • Long-run
  • Short-run
  • Very Long-run

  • 3. 
    An active factor of production is:

  • Capital
  • Labour
  • Land
  • None of these

  • 4. 
    If all the factors of production are increased by same proportion and as a result output increases by a greater proportion than it is called :

  • Constant returns to scale
  • Decreasing returns to scale
  • All of these
  • None of these

  • 5. 
    Which of the following is included in money cost ?

  • Normal Profit
  • Explicit Cost
  • Implicit Cost
  • All of these

  • 6. 
    Which of the following is not fixed cost ?

  • Insurance Premium
  • Interest
  • Cost of Raw Material
  • Rent of the Factory

  • 7. 
    With the increase in production the difference between total cost and total fixed cost:

  • Remains Constant
  • Increases
  • Decreases
  • Both Increases or Decreases

  • 8. 
    Changes in production quantity affect:

  • Both Fixed and Variable Cost
  • Only Variable Cost
  • Only Fixed Cost
  • None of the above

  • 9. 
    What happens when production is shut down ?

  • Fixed Cost Increases
  • Variable Costs Decline
  • Variable Costs become zero
  • Fixed Costs become zero

  • 10. 
    The alternative name of opportunity cost is:

  • Economic Cost
  • Equilibrium Price
  • Marginal Cost
  • Average Cost
Report Question
warning
Practice More On Production and Costs
Quiz 1 Quiz 2 Quiz 3 Quiz 4 Quiz 5 Quiz 6 Quiz 7
access_time
  Time