MCQ Questions Class 11 Production and Costs With Answers

CBSE Class 11 Production and Costs Multiple Choice Questions with Answers. MCQ Questions Class 11 Production and Costs with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 11 Production and Costs with Answers to know their preparation level.

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MCQ Questions Class 11 Production and Costs with Answers - Set - 1

Question 1:

The cycle which increases first and after being constant starts to reduce is called :
(a) APP
(b) MPP
(c) TPP
(d) All of these

Check Answer

Correct Answer – (D)

Question 2:

Production function is expressed as:
(a) Q_x = P_x
(b) Q_x = f(A, B, C, D)
(c) Q_x = D_x
(d) None of these

Check Answer

Correct Answer – (B)

Question 3:

Law of variable proportion explains three stages of production. In the first stage of production:
(a) Both MP and AP rise
(b) MP rises
(c) AP Falls
(d) MP is zero

Check Answer

Correct Answer – (A)

Question 4:

Long-run production function is related to:
(a) Law of Demand
(b) Law of Increasing Returns
(c) Laws of Returns to Scale
(d) Elasticity of Demand

Check Answer

Correct Answer – (C)

Question 5:

The basic reason of operating the Law of Diminishing Returns is:
(a) Scarcity of Factors
(b) Imperfect Substitution between Factors
(c) Both (a) and (b)
(d) None of the above

Check Answer

Correct Answer – (C)

MCQ Questions Class 11 Production and Costs With Answers

Question 6:

Which factors among following we find in short-run production process ?
(a) Fixed Factors
(b) Variable Factors
(c) Both (a) and (b)
(d) None of these

Check Answer

Correct Answer – (C)

Question 7:

At which time all the factors of production may be changed ?
(a) Short run
(b) Long run
(c) Very Long run
(d) All the three

Check Answer

Correct Answer – (B)

Question 8:

In which stage of production a rational producer likes to operate in shot-run production ?
(a) First Stage
(b) Second Stage
(c) Third Stage
(d) None of these

Check Answer

Correct Answer – (B)

Question 9:

Which of the following explains the short-run production function ?
(a) Law of Demand
(b) Law of Variable Proportion
(c) Returns to Scale
(d) Elasticity of Demand

Check Answer