Chapters
Chapter 2: Consumption Analysis
Chapter 3: Production Analysis
Chapter 4: Cost and Revenue Analysis
Chapter 5: Market Structure and Pricing
Chapter 6: Distribution Analysis
Chapter 7: Indian Economy
Chapter 8: Indian Economy Before and After Independence
Chapter 9: Development Experiences in India
Chapter 10: Rural Economy
Chapter 11: Tamil Nadu Economy
Chapter 12: Mathematical Methods for Economics
Chapter 3: Production Analysis
Tamil Nadu Board Samacheer Kalvi solutions for Class 11th Economics Answers Guide Chapter 3 Production Analysis Model Questions - Part A [Pages 76 - 78]
Multiple Choice Questions
The primary factors of production are:
Labour and Organisation
Labour and Capital
Land and Capital
Land and Labour
The man-made physical goods used to produce other goods and services are referred to as.
Land
Labour
Capital
Organization
Formula for calculating AP is
ΔTP/N
ΔTP/ΔN
TP/MP
TP/N
Which factor is called the changing agent of the Society
Labourer
Land
Organizer
Capital
Who said, that one of the key of an entrepreneur is “uncertainty bearing”.
J.B.Clark
Schumpeter
Knight
Adam Smith
The functional relationship between “inputs” and “outputs” is called as
Consumption Function
Production Function
Savings Function
Investment Function
In a firm, 5 units of factors produce 24units of the product. When the number of factor increases by one, the production increases to 30 units. Calculate the Average Product.
30
6
5
24
The short-run production is studied through
The Laws of Returns to Scale
The Law of Variable Proportions
Iso-quants
Law of Demand
The long-run production function is explained by
Law of Demand
Law of Supply
Returns to Scale
Law of Variable Proportions
An Iso-quant curve is also known as
Inelastic Supply Curve
Inelastic Demand Curve
Equi-marginal Utility
Equal Product Curve
Mention the economies reaped from inside the firm
financial
technical
managerial
all of the above
Cobb-Douglas production function assumes
Increasing returns to scale
Diminishing returns to scale
Constant returns to scale
All of the above
Name the returns to scale when the output increases by more than 5%, for a 5% increase in the inputs,
Increasing returns to scale
decreasing returns to scale
Constant returns to scale
All of the above
Which of the following is not a characteristic of land?
Its limited supply
It is mobile
Heterogeneous
Gift of Nature
Product obtained from additional factors of production is termed as
Marginal product
Total product
Average product
Annual product
Modern economists have propounded the law of
Increasing returns
decreasing returns
Constant returns
variable proportions
Producer’s equilibrium is achieved at the point where:
Marginal rate of technical substitution(MRTS) is greater than the price ratio
MRTS is lesser than the price ratio
MRTS and price ratio are equal to each other
The slopes of isoquant and isocost lines are different
If average product is decreasing, then marginal product
must be greater than average product
must be less than average product
must be increasing
both a and c
The relationship between the price of a commodity and the supply of commodity is
Negative
Positive
Zero
Increase
A production function measures the relation between
input prices and output prices
input prices and the quantity of output
the quantity of inputs and the quantity of output.
the quantity of inputs and input prices.
Tamil Nadu Board Samacheer Kalvi solutions for Class 11th Economics Answers Guide Chapter 3 Production Analysis Model Questions - Part B [Page 78]
Answer the following questions in one or two sentences
Classify the factors of production.
Define Labour.
State the production function.
Define Marginal Product of a factor.
What is Iso-cost line?
What are the conditions for the producer’s equilibrium?
What are the reasons for upward sloping supply curve?
Tamil Nadu Board Samacheer Kalvi solutions for Class 11th Economics Answers Guide Chapter 3 Production Analysis Model Questions - Part C [Page 78]
Answer the following questions in one paragraph
What are the characteristics of land?
What are the factors governing the elasticity of supply?
What are the functions of Entrepreneur?
State and explain the elasticity of supply.
Bring out the Relationship among Total, Average and Marginal Products.
Illustrate the concept of Producer’s Equilibrium.
State the Cobb-Douglas Production Function.
Tamil Nadu Board Samacheer Kalvi solutions for Class 11th Economics Answers Guide Chapter 3 Production Analysis Model Questions - Part D [Page 79]
Answer the following questions in about a page
Examine the Law of Variable Proportions with the help of a diagram.
List out the properties of iso-quants with the help of diagrams.
Elucidate the Laws of Returns to Scale. Illustrate.
Explain the internal and external economies of scale.
Chapter 3: Production Analysis
Tamil Nadu Board Samacheer Kalvi solutions for Class 11th Economics Answers Guide chapter 3 - Production Analysis
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Concepts covered in Class 11th Economics Answers Guide chapter 3 Production Analysis are Production Analysis, Features of the Factors of Production, Production Function, Law of Variable Proportions, Laws of Returns to Scale, Economies of Scale, Diseconomies of Scale, Iso-quants, The Iso-cost Line, Producer's Equilibrium, Cobb-Douglas Production Function, Law of Supply.
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