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PUNEET GROVER

DVR STUDY CENTRE

UNIT - 3

PRODUCTION

ONE MARK

1. What is production function ?

[Al 2005, 06C, 08,11; Delhi 2007, 09C; Foreign 2008,]

2. What is meant by total physical product (TPP) ?

3. What is meant by average physical product (APP) ?

4. What is meant by marginal physical product (MPP) ?

[Delhi 2003, 05, 06, AI, Foreign 2007]

5. What is meant by returns to a factor ? {Delhi 2006; Al 2009C]

6. What will you say about MPP of a factor when TPP rises at an

increasing rate ?

(Hots)

7. What will you say about MPP of a factor when TPP rises at

diminishing rate?

(Hots)

8. What will you say about MPP of a factor when TPP falls? (Hots)

9. When MPP is rising, at what rate TPP is changing ? (Hots)

10. When MPP is falling and positive, at what rate TPP is changing ?

 (Hots) 11. When MPP is zero, what can you say about TPP ? (Hots)

12. When MPP is greater than APP, what will you say about APP?

(Hots)

13. When MPP is less than APP, what will you say about APP ?

(Hots)

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14. When MPP equals APP, what will you say about APP ?

15. When APP rises, what is the relation between MPP and APP ?

(Hots)

(Hots)

16. When APP is at its maximum, what is the relation between MPP

and APP ?

(Hots)

17. When APP falls, what is the relation between MPP and APP ?

3/4 MARKS

(Hots)

 1. Explain the relationship between Marginal Physical Product (MPP) and Average Physical Product (APP) with the help of a diagram. [Al 2000] 2. What is meant by returns to a factor ? Explain the law of diminishing marginal returns. OR What is the law of diminishing marginal product? 3. Explain the law of variable proportions. Use diagram. [Foreign 2009] OR Explain the effect on output when only one input is increased and all other inputs are held constant. [Al 2004C] Explain the “law of variable proportions” in terms of the behaviour of total product. [Delhi 2012, 07C, Foreign 2009] OR Explain the meaning of increasing returns to a factor with the help of TPP schedule and TPP curve. [Delhi 2008C] OR Explain the “law of variable proportions” in terms of behaviour of marginal product. [Al 2002] 4. What is meant by returns to a factor ? What leads to increasing returns to a factor ? [Delhi 2004, 07C] 5. What do you understand by returns to a factor ? State the reasons

for diminishing returns to a factor.

[Al, Foreign 2006]

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6 MARKS

 1. Explain the law of variable proportions. Also state the reasons behind the law. [Delhi 2004C, 05] 2. Explain the law of variable proportion with the help of total and marginal physical product curves /schedule. [Delhi 2005, 08, 10, 13; Foreign 2005, Al 2006C,10] 3. Explain the law of variable proportion in terms of the behaviour of total physical product, with the help of a diagram. (Hots) ; [Delhi 2007C, 09C, 12] OR Giving reasons. explain the behaviour of total product under the Law of Variable Proportions. Use diagrm. [Foreign 2011, AI 12] 4. What does law of variable proportion shows? State the behaviour of marginal product according to this law. [AI 2012] 5. State the different phases of changes in TP and MP in the law of variable proportions. Also show the same in a single diagram.

[Delhi 2014]

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