CBSE Class 12 Economics Questions for Producer Behaviour and Supply

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CBSE Assignment  for Class XII Economics. Prepared by teachers of one of the best CBSE schools in Delhi. Based on CBSE and CCE guidelines. The students should practice these assignments to gain perfection which will help him to get more marks in CBSE examination.

Very Short Answer Type Questions (1 Mark)

1. Define production function.

2. Define marginal product.

3. What will be the behavior of total product when marginal product of variable input is falling but is positive?

4. What is the relation between average and marginal product when average product is falling?

5. Define average production.

6. What do you mean by fixed factors of production? Give example.

7. By which behaviour of marginal product will total product be maximum

8. How does fall in total product affects marginal product?

9. What do you mean by cost?

10. Define explicit costs.

11. Which cost curve is parallel to ox-axis? Why?

12. What do you mean by implicit costs?

13. Define marginal cost.

14. Why does the difference between average total cost and average variable cost falls with increase in output?

15. Define Revenue.

16. At what rate average and marginal revenue falls, with fall in per unit price of a good?

17. What will be the behaviour of Average revenue when total revenue increases at constant rate?

18. What do you mean by marginal revenue?

19. What will be the behaviour of total revenue when marginal revenue is zero?

20. Why does average cost curve and averages variable cost curve never intersect each other?

21. What do you mean by producer’s equilibrium?

22. State any two conditions of producers equilibrium according to marginal revenue and marginal cost approach.

23. Define supply.

24. What do you mean by individual supply schedule?

25. Define Market Supply

26. Name two determinants of supply.

27. What is meant by change in supply?

28. What type of change in price is the cause of upward movement along a supply curve?

29. What effect does an increase is tax rates have on supply of a commodity?

30. What causes a downward movement along a supply curve?

31. What is meant by leftward shift of supply curve?

32. How does a decrease in price of input effect supply curve of the commodity?

33. Why does a supply curve have a positive slope?

34. What is meant by elasticity of supply?

35. What is the price elasticity of supply, if supply curve is parallel to y-axis.

36. When does the elasticity of supply of commodity called equal to unity?

37. When does the producer increase the supply of a good at given price, give two reasons.

38. What causes an extension in supply?

39. If the price of a commodity falls by 10% and, consequently, the quantity supplied decreases by 20%. What will be its price elasticity of supply?

 

Please refer to attached file for CBSE Class 12 Economics Questions for Producer Behaviour and Supply

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