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प्रश्न
Who said, that one of the key of an entrepreneur is “uncertainty bearing”.
विकल्प
J.B.Clark
Schumpeter
Knight
Adam Smith
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उत्तर
Knight
APPEARS IN
संबंधित प्रश्न
State the behaviour of marginal product in the law of variable proportions. Explain the causes of this behaviour
State the different phases of change in the total product according to the Law of Variable Proportions. Use diagram
Formula for calculating AP is
Product obtained from additional factors of production is termed as
Modern economists have propounded the law of
Which one of the following is NOT a ceteris paribus assumption of the Law of Supply?
At the point of inflexion, ______ is maximum.
With the help of a diagram, explain the relationship between Average Product and Total Product under the Law of Variable Proportions.
Study the data given below and identify the laws followed in the production of A and B depicted in the Table I and Table II. Justify your answer with a reason for each.
| Table I | Table II | ||||
| Machines | Labour | Output of A (units) | Machines | Labour | Output of B (units) |
| 5 | 10 | 1000 | 5 | 10 | 400 |
| 5 | 11 | 1150 | 10 | 20 | 800 |
| 5 | 12 | 1310 | 15 | 30 | 1200 |
What are Average product?
What is marginal product?
With the help of a suitable diagram, discuss the relationship between Average product and Marginal Product.
What is the formula for calculating Average Product?
Which stage is shown when total production drops and marginal product becomes negative?
Why should businesses study the law of variable proportions?
