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UNIT - 3 PRODUCTION

UNIT - 3

UNIT - 3 PRODUCTION
PRODUCTION

PRODUCTION

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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