Practice Worksheets for Class 11 Economics: Part A Microeconomics Chapter 03 Production and Costs
Explore reliable practice materials for Part A Microeconomics Chapter 03 Production and Costs tailored for Class 11 learners. Utilizing these Economics worksheets ensures thorough preparation and strengthens problem-solving speed for upcoming school assessments.
Practice Part A Microeconomics Chapter 03 Production and Costs Worksheets for Class 11 Economics
Access the complete worksheet PDF for Part A Microeconomics Chapter 03 Production and Costs below. Regular practice with these targeted questions builds familiarity with standard exam patterns and helps secure higher marks in final Economics evaluations.
DEPARTMENT OF COMMERCE AND HUMANITIES
PRODUCTION POSSIBILITY CURVE
I. Answer in one sentence each
1. Define goods.
2. Distinguish between goods and services.
3. What do you understand by ‘individual’ in economics?
4. What does ‘allocation of resources’ mean?
5. Define ‘scarcity’ in economics.
6. Define positive economics.
7. Give an example for a positive statement.
8. Define normative economics.
9. Give an example for normative statement.
10. Define micro economics
11. Give two examples for micro economic variables.
12. Define macro economics.
13. Give two examples for macro economic variables.
II. Answer in around 60 words each
14. How does problem of choices arise in an economy?
15. Define production possibilities. Show various production possibilities on a production possibility curve.
16. Define production possibility curve. State any two assumptions behind the concept of production possibility curve?
17. What does the problem of ‘for whom to produce’ signify’?
18. What does the problem of ‘how to produce’ signify’?
III.Answer in around 75 words each
19. Define a market. What are the characteristics of a market economy?
20. How do central problems get solved in a ‘market economy’?
21. What are resources? What are the basic characteristics of resources?
22. Define a mixed economy. How are central problems solved in such an economic system?
23. Define opportunity cost. Explain with the help of an illustration.
24. Define marginal opportunity cost. How does it determine the shape of production possibility curve?
25. What does the following signify:
Economy functions along the production possibility curve.
Production possibility curve shifts to right (outward).
Production possibility curve shifts to left (inward).
Economy functions below the production possibility curve.
26. What could be the shape of production possibility curve if ‘marginal rate of transformation’ is increasing in nature? Show with diagram
27. What can you say about the shape of production possibility curve if resources are equally efficient in the production of both the good? Show with diagram.
IV. Answer in around 100 words each
28. How does Production possibility curve explain the problem of ‘What to Produce’? Show with a diagram
29. Why does increasing Marginal Rate of Transformation occur? Show the concept on a production possibility curve with schedule.
30. What happens to production possibility curve When
a. Technology of production improves?
b. Earth quake destroys existing stock of capital
c. Economy employs all the resources efficiently and fully.
Please click on below link to download CBSE Class 11 Economics Production Possibility Curve Worksheet
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Exam Preparation Worksheet for Class 11 Economics Part A Microeconomics Chapter 03 Production and Costs
CBSE Practice Material: Class 11 Economics Part A Microeconomics Chapter 03 Production and Costs
Explore reliable practice questions for Part A Microeconomics Chapter 03 Production and Costs tailored for Class 11 Economics learners. Use these structured worksheets to evaluate preparedness and strengthen problem-solving skills.
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Yes, our CBSE Class 12 Economics Production Possibility Curve Worksheet includes a variety of questions like Case-based studies, Assertion-Reasoning, and MCQs as per the 50% competency-based weightage in the latest curriculum for Class 11.
Yes, we have provided detailed solutions for CBSE Class 12 Economics Production Possibility Curve Worksheet to help Class 11 and follow the official CBSE marking scheme.
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