CBSE Class 11 Economics Production and Costs Quiz 2

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CBSE › Class 11 › Economics › Production and Costs

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

A Land B Labour C Capital D All of these

2. Law of variable proportion is related to :

A Both short-run and long run B Long-run C Short-run D Very Long-run

3. An active factor of production is:

A Capital B Labour C Land D 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 :

A Constant returns to scale B Decreasing returns to scale C All of these D None of these

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

A Normal Profit B Explicit Cost C Implicit Cost D All of these

6. Which of the following is not fixed cost ?

A Insurance Premium B Interest C Cost of Raw Material D Rent of the Factory

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

A Remains Constant B Increases C Decreases D Both Increases or Decreases

8. Changes in production quantity affect:

A Both Fixed and Variable Cost B Only Variable Cost C Only Fixed Cost D None of the above

9. What happens when production is shut down ?

A Fixed Cost Increases B Variable Costs Decline C Variable Costs become zero D Fixed Costs become zero

10. The alternative name of opportunity cost is:

A Economic Cost B Equilibrium Price C Marginal Cost D Average Cost

Practice more on Production and Costs

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