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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
What are the different phases in the Law of Variable Proportions in terms of Total Product ? Give reasons behind each phase. Use diagram.
Explain the law of variable proportions with the help of a diagram.
Formula for calculating AP is
The short-run production is studied through
Product obtained from additional factors of production is termed as
Modern economists have propounded the law of
Bring out the Relationship among Total, Average and Marginal Products.
Why is the AVC curve U-shaped?
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 is marginal product?
With the help of a suitable diagram, discuss the relationship between Average product and Marginal Product.
Which stage of the Law of Variable proportions will be the best for the producer? Explain with a reason.
What happens to marginal product after a certain point, if more and more labour is added to fixed land?
Why should businesses study the law of variable proportions?
