Production Function Class 11 MCQ Questions Economics are covered in this Article. Production Function Class 11 MCQ Test contains 30 questions. Answers to MCQs on Production Function Class 11 Economics are available after clicking on the answer. This MCQ has been made for Class 11 students to help check the concept you have learned from detailed classroom sessions and the application of your knowledge.
| Subject | Economics (MCQ) |
| Topic | Production Function Class 11 MCQ |
| Category | Economics Class 11 MCQs |
Production Function Class 11 MCQ Questions Economics
1.________ is an expression of the technological relationship between inputs and outputs of an item.
(a) Production
(b) Revenue function
(c) Production function
(d) All of the above
Answer
Answer: (c) Production function
2. _______ refers to the transformation of inputs into output.
(a) Production
(b) Revenue function
(c) Production function
(d) All of the above
Answer
Answer: (a) Production
3. Production function specifies_______.
(a) Maximum output produced with a given output
(b) Minimum quantity of inputs needed to produce
(c) Both (a)&(b)
(d) None of the above
Answer
Answer: (c) Both (a)&(b)
4. Production function is defined concerning;
(a) Input
(b) Technology
(c) Output
(d) Entrepreneurship
Answer
Answer: (b) Technology
5. A period in which output can be changed by changing only variable factors
(a) Long run
(b) Short-run
(c) Fixed run
(d) Factor run
Answer
Answer: (b) Short-run
6. Which of the following are fixed inputs?
(a) Plant
(b) Machinery
(c) Building
(d) All of the above
Answer
Answer: (d) All of the above
7. ______ refers to a period in which output can be changed by changing all factors of production.
(a) Long run
(b) Short-run
(c) Fixed run
(d) Factor run
Answer
Answer: (a) Long run
Production Function Class 11 MCQ Questions Economics
8. The long-run period is ______ concept.
(a) Economical
(b) Functional
(c) Productional
(d) None of the above
Answer
Answer: (b) Functional
9. Factors in the short run are classified as;
(a) Variable
(b) Fixed
(c) Both (a)&(b)
(d) None of the above
Answer
Answer: (c) Both (a)&(b)
10. In the short run ______ is more active in price determination.
(a) Supply
(b) Demand
(c) Both (a)&(b)
(d) None of the above
Answer
Answer: (b) Demand
11. Read the following statement given below and choose the correct alternative
Statement 1- Input refers to the volume of goods produced by a firm or an industry During a specific period.
Statement 2- Total product is the total quantity of goods produced by a firm in a given period with given inputs
(a) Both are correct
(b) Both are incorrect
(c) Statement 1 is correct and statement 2 is incorrect
(d) Statement 1 is incorrect and statement 2 is correct
Answer
Answer: (d) Statement 1 is incorrect and statement 2 is correct
12. Read the following statement given below and choose the correct alternative.
Statement 1- Output per unit of a variable input is termed as an average product.
Statement 2- Average product is also known as an average return.
(a) Both are correct
(b) Both are incorrect
(c) Statement 1 is correct and statement 2 is incorrect
(d) Statement 1 is incorrect and statement 2 is correct
Answer
Answer: (a) Both are correct
13. Read the following statement given below and choose the correct alternative.
Statement 1- Addition to total product when more units of the variable factor are employed is known as Average product.
Statement 2- MP= TP-TP1
(a) Both are correct
(b) Both are incorrect
(c) Statement 1 is correct and statement 2 is incorrect
(d) Statement 1 is incorrect and statement 2 is correct
Answer
Answer: (b) Both are incorrect
14. ______ refers to the increase in the total product when only one factor is increased.
(a) Production factor
(b) Returns to a factor
(c) Returns to inputs
(d) Law of Diminishing returns
Answer
Answer: (b) Returns to a factor
15. Law of variable proportions is also known as;
(a) Law of returns
(b) Law of returns to factors
(c) Returns to variable factors
(d) All of the above
Answer
Answer: (d) All of the above
16. Read the following statement given below and choose the correct alternative.
Assertion- In the first phase of the law of variable proportions, TP rises at an increasing rate and MP increases.
Reason- In the third phase of the law of variable proportions, TP falls and MP becomes negative.
(a) Both Assertion and Reason are true. The reason is the correct explanation of the assertion
(b) Both Assertion and reason are not true. The reason is not the correct explanation of the assertion
(c) The assertion is true but the reason is not
(d) The reason is true but the assertion is not
Answer
Answer: (b) Both Assertion and reason are not true. The reason is not the correct explanation of the assertion
Production Function Class 11 MCQ Questions Economics
17. Read the following statement given below and choose the correct alternative.
Assertion- Phase one of the Law of variable proportions is known as increasing returns to a factor.
Reason- Phase two of the Law of variable proportions is known as increasing returns to a factor.
(a) Both Assertion and Reason are true. The reason is the correct explanation of the assertion
(b) Both Assertion and reason are not true. The reason is not the correct explanation of the assertion
(c) The assertion is true but the reason is not
(d) The reason is true but the assertion is not
Answer
Answer: (c) The assertion is true but the reason is not
18. Which of the following are reasons for the law of variable proportions?
(a) Better utilisation of fixed factors
(b) Indivisibility of fixed factors
(c) Increased efficiency of variable factors.
(d) All of the above
Answer
Answer: (d) All of the above
19. Which of the following are the reasons for diminishing returns to a factor?
(a) Over utilisation of fixed factors
(b) Indivisibility of fixed factors
(c) Increased efficiency of variable factors.
(d) All of the above
Answer
Answer: (a) Over utilisation of fixed factors
20. Which of the following are the reasons for negative returns to a factor?
(a) Limitation of fixed factors
(b) Poor coordination between variable and fixed factors
(c) Both (a)&(b)
(d) None of the above
Answer
Answer: (c) Both (a)&(b)
21. Which of the following are the assumptions of Law of variable proportions.
(a) Law of variable proportion applies to the field of production only.
(b) The effect of change in output can be easily determined.
(c) It operates in short run
(d) All of the above
Answer
Answer: (d) All of the above
22. The state of technology in Law of variable proportions is______.
(a) Increasing with output
(b) Decreasing with output
(c) Constant
(d) Negative
Answer
Answer: (c) Constant
Production Function Class 11 MCQ Questions Economics
23. When MP is zero TP is ______.
(a) Constant
(b) Maximum
(c) Minimum
(d) Negative
Answer
Answer: (b) Maximum
24. As TP increases, MP______.
(a) Increases
(b) Decreases
(c) Remains unchanged
(d) Remains constant
Answer
Answer: (a) Increases
25. When TP starts decreasing, MP becomes______.
(a) Constant
(b) Maximum
(c) Minimum
(d) Negative
Answer
Answer: (d) Negative
26. When AP is maximum MP=
(a) AP
(b) TP
(c) Both (a)&(b)
(d) None of the above
Answer
Answer: (a) AP
27. Calculate TP at 3rd unit.
| Variable factor | MP |
| 1 | 26 |
| 2 | 20 |
| 3 | 18 |
| 4 | 15 |
(a) 64
(b) 46
(c) 24
(d) 38
Answer
Answer: (a) 64
28. Calculate MP at 4th unit.
| Variable factor | AP |
| 1 | 10 |
| 2 | 14 |
| 3 | 18 |
| 4 | 25 |
| 5 | 31 |
(a) 18
(b) 26
(c) 46
(d) 55
Answer
Answer: (c) 46
29. Fill in the blanks with correct option.
| Unit | AP MP |
| 1 | 8. 8 |
| 2 | 10. 12 |
| 3 | ___. 10 |
| 4 | 9. 6 |
(a) 9
(b) 10
(c) 12
(d) 8
Answer
Answer: (b) 10
30. Identify the phase in the following table
| Variable factor | TP |
| 0 | 0 |
| 1 | 8 |
| 2 | 15 |
(a) First phase
(b) Second phase
(c) Third phase
(d) None of the above
Answer
Answer: (a) First phase
Term 2 – NCERT Economics Class 11 MCQ
Part A – MCQ Questions for Class 11 Statistics Economics
- Statistical Tools and Interpretation – Measures of Dispersion, Correlation, Index Number
Part B – MCQ Questions for Class 11 Microeconomics
- Producer Behaviour and Supply
- Production Function Class 11 MCQ
- Cost Class 11 MCQ Economics
- Revenue Class 11 MCQ Economics
- Forms of Market and Price Determination under perfect competition with simple applications