# CBSE Class 12 Economics Production Function Worksheet

Read and download free pdf of CBSE Class 12 Economics Production Function Worksheet. Download printable Economics Class 11 Worksheets in pdf format, CBSE Class 11 Economics Part A Microeconomics Chapter 3 Production and Costs Worksheet has been prepared as per the latest syllabus and exam pattern issued by CBSE, NCERT and KVS. Also download free pdf Economics Class 11 Assignments and practice them daily to get better marks in tests and exams for Class 11. Free chapter wise worksheets with answers have been designed by Class 11 teachers as per latest examination pattern

## Part A Microeconomics Chapter 3 Production and Costs Economics Worksheet for Class 11

Class 11 Economics students should refer to the following printable worksheet in Pdf in Class 11. This test paper with questions and solutions for Class 11 Economics will be very useful for tests and exams and help you to score better marks

### Class 11 Economics Part A Microeconomics Chapter 3 Production and Costs Worksheet Pdf

INTRODUCTORY MICROECONOMICS

PRODUCTION FUNCTION ( RETURNS TO FACTOR)

MEANING OF PRODUCTION

Production is defined as the transformation of inputs into output. Production includes both production of physical goods and production of services

→ PRODUCTION FUNCTION

• The term production function means the technical and physical relationship between inputs used and the resulting output.

• It includes only technically efficient combinations of inputs (i.e., those which minimise the cost of production).

• A production function is expressed as:
Q=f (K, L) Where Q is output, labour (L) and capital (K), required to produce a good
Types of Production Function

• Short-run Production Function. It refers to production in the short-run where there are some fixed factors. In short-run, production increases when more units of variable factors are used with certain amount of fixed factor.

• Long-run Production Function. It refers to production when all factors are increased in the same proportion Fixed Factors and Variable Factors Fixed factors refer to those factors whose supply cannot be changed during short run. E.g. land, plant, factory building, minimum electricity bill, etc. Variable factors refer to those factors whose supply can be varied or changed. E.g. raw materials, daily wage workers, etc.

→ CONCEPTS OF PRODUCT

• Total Physical Product (TPP) or Total Product (TP): It is defined as the total quantity of goods and services produced by a firm with the given inputs during a specified period of time.

• In the short-run, TP can be increased by employing more units of the variable factor.

• In the long-run, TP can be increased by employing more units of all factors.

TP Curve

TP curve starts from the origin, increases at an increasing rate, reaches a maximum and finally decreases at an increasing rate

→ Average Product (AP)

Average Product (AP): It is defined as the amount of output produced per unit of the variable factor (labour) employed

AP = Total physical product / Labour Input = TP / L

AP is zero when no labour is employed. Initially, AP increases, reaches maximum and finally starts declining. AP curve is an inverted U-shaped.

→ Marginal Product (MP)

It is defined as the change in TP resulting from the employment of an additional unit of a variable factor (labour). symbolically, MP can be written as :

Initially MP increases with employment of units of labour. MP starts declining to become zero and finally becomes negative. MP curve is inverted U-shaped.

Relationship between TP, AP and MP Curves

• AP curve is the slope of the straight line from the origin to each point on the TP curve. MP curve is the slope of the TP curve at each point.

• When AP is maximum, MP = AP.

• When TP is maximum, MP = O.

• When TP is falling, MP is negative.

• Both AP and MP curves are inverted U-shaped.

Law of Diminishing Marginal Product

If we keep increasing the employment of the variable input with other fixed inputs then eventually a point will be reached after which the marginal product of that input will start falling. MP of a factor input initially rises, when the level of employment of the input is low, but after reaching a certain level of employment, it starts falling.

The Law of Variable Proportion

Statement of the laws Law of Variable Proportion
The law of variable proportion states that when total output or production of a commodity is increased by adding units of a variable input, while the quantities of other inputs are held constant, the increase in total production, after some point, diminishes.

• Assumptions of the Law

• The assumptions of the law of variable proportion are:

• State of technology remains the same.

• All units of the variable factor, labour, are homogenous.

• There must always be some fixed input and diminishing returns results due to fixed supply of the fixed factor.

 CBSE Class 11 Economics Indian Economy At Eve of Independence Worksheet CBSE Class 11 Economics Indian Economy On The Eve of Independence Worksheet Set A CBSE Class 11 Economics Indian Economy On The Eve of Independence Worksheet Set B CBSE Class 11 Economics Liberalisation Privatisation And Globalisation Worksheet
 CBSE Class 12 Economics Indian Economy Worksheet Set A CBSE Class 12 Economics Indian Economy Worksheet Set B
 CBSE Class 12 Economics Poverty Worksheet
 CBSE Class 12 Economics Human Capital Formation in India Worksheet Set A CBSE Class 12 Economics Human Capital Formation in India Worksheet Set B
 CBSE Class 11 Economics Rural Development Worksheet
 CBSE Class 12 Economics Introduction To Microeconomics Worksheet CBSE Class 12 Economics Introduction to Microeconomics Worksheet CBSE Class 12 Economics Introduction Worksheet Set A CBSE Class 12 Micro Economics Introduction Worksheet
 CBSE Class 11 Economics Utility Analysis Worksheet CBSE Class 12 Economics Demand Analysis Worksheet Set A CBSE Class 12 Economics Elasticity of Demand Worksheet CBSE Class 12 Economics Indefference Curve Analysis Worksheet CBSE Class 12 Economics On Indifference Curve Worksheet CBSE Class 12 Micro Economics Consumer Behaviour And Demand Analysis Worksheet CBSE Class 12 Micro Economics Consumer Behaviour And Demand Indifference Analysis Worksheet Set A CBSE Class 12 Micro Economics Consumer Behaviour And Demand Utility Analysis Worksheet CBSE Class 12 Micro Economics Indifference Curve Analysis Worksheet CBSE Class 12 Micro Economics Theory of Demand Worksheet
 CBSE Class 12 Economics Production And Cost Worksheet CBSE Class 12 Economics Production Function Worksheet CBSE Class 12 Economics Production Function Worksheet CBSE Class 12 Economics Production Possibility Curve Worksheet
 CBSE Class 11 Economics Theory of Firm Under Perfect Competition Worksheet CBSE Class 12 Economics The Theory of Firm Under Perfect Competition Worksheet
 CBSE Class 12 Economics Market Equilibrium Worksheet
 CBSE Class 12 Economics Non Competitive Market Worksheet CBSE Class 12 Micro Economics Price Elasticity of Demand Worksheet
 CBSE Class 12 Economics Introduction To Macroeconomics Worksheet
 CBSE Class 12 Economics Expenditure Method Numericals Worksheet Set A CBSE Class 12 Economics Expenditure Method Numericals Worksheet Set B CBSE Class 12 Economics Income And Expenditure Method Worksheet CBSE Class 12 Economics Income Method Worksheet Set A CBSE Class 12 Economics Income Method Worksheet Set B CBSE Class 12 Economics National Income Accounting Worksheet Set A CBSE Class 12 Economics National Income Accounting Worksheet Set B CBSE Class 12 Economics National Income Accounting Worksheet Set B CBSE Class 12 Economics National Income Accounting Worksheet Set C CBSE Class 12 Economics National Income Accounting Worksheet Set D CBSE Class 12 Economics National Income Accounting Worksheet Set E CBSE Class 12 Economics National Income Worksheet Set A CBSE Class 12 Economics National Income Worksheet Set B
 CBSE Class 12 Economics Money And Banking Worksheet Set A CBSE Class 12 Economics Money And Banking Worksheet Set B CBSE Class 12 Economics Money And Banking Worksheet Set C
 CBSE Class 12 Economics Determination of Income And Employment Worksheet CBSE Class 12 Economics Income Determination Worksheet
 CBSE Class 12 Economics Goverment Budget And The Economy Worksheet Set A CBSE Class 12 Economics Goverment Budget And The Economy Worksheet Set B
 CBSE Class 12 Economics Current Challenges facing The Indian Economy Poverty Worksheet CBSE Class 12 Economics Indian Economy Since 1991 Worksheet CBSE Class 12 Economics On Demand Analysis Worksheet CBSE Class 12 Economics On Utility Worksheet CBSE Class 12 Economics Solved Question Bank Set A CBSE Class 12 Economics Solved Question Bank Set B CBSE Class 12 Economics Value Added By A Firm Worksheet CBSE Class 12 Economics Value Added Numericals Worksheet Set A CBSE Class 12 Economics Value Added Numericals Worksheet Set B CBSE Class 12 Economics Worksheet Set A Solved CBSE Class 12 Economics Worksheet Set B Solved CBSE Class 12 Economics Worksheet Set C

## More Study Material

Tags

### CBSE Class 11 Economics Part A Microeconomics Chapter 3 Production and Costs Worksheet

The above practice worksheet for Part A Microeconomics Chapter 3 Production and Costs has been designed as per the current syllabus for Class 11 Economics released by CBSE. Students studying in Class 11 can easily download in Pdf format and practice the questions and answers given in the above practice worksheet for Class 11 Economics on a daily basis. All the latest practice worksheets with solutions have been developed for Economics by referring to the most important and regularly asked topics that the students should learn and practice to get better scores in their examinations. Studiestoday is the best portal for Printable Worksheets for Class 11 Economics students to get all the latest study material free of cost.

### Worksheet for Economics CBSE Class 11 Part A Microeconomics Chapter 3 Production and Costs

Teachers of studiestoday have referred to the NCERT book for Class 11 Economics to develop the Economics Class 11 worksheet. If you download the practice worksheet for the above chapter daily, you will get better scores in Class 11 exams this year as you will have stronger concepts. Daily questions practice of Economics printable worksheet and its study material will help students to have a stronger understanding of all concepts and also make them experts on all scoring topics. You can easily download and save all revision Worksheets for Class 11 Economics also from www.studiestoday.com without paying anything in Pdf format. After solving the questions given in the practice sheet which have been developed as per the latest course books also refer to the NCERT solutions for Class 11 Economics designed by our teachers

#### Part A Microeconomics Chapter 3 Production and Costs worksheet Economics CBSE Class 11

All practice paper sheet given above for Class 11 Economics have been made as per the latest syllabus and books issued for the current academic year. The students of Class 11 can be assured that the answers have been also provided by our teachers for all test paper of Economics so that you are able to solve the problems and then compare your answers with the solutions provided by us. We have also provided a lot of MCQ questions for Class 11 Economics in the worksheet so that you can solve questions relating to all topics given in each chapter. All study material for Class 11 Economics students have been given on studiestoday.

#### Part A Microeconomics Chapter 3 Production and Costs CBSE Class 11 Economics Worksheet

Regular printable worksheet practice helps to gain more practice in solving questions to obtain a more comprehensive understanding of Part A Microeconomics Chapter 3 Production and Costs concepts. Practice worksheets play an important role in developing an understanding of Part A Microeconomics Chapter 3 Production and Costs in CBSE Class 11. Students can download and save or print all the printable worksheets, assignments, and practice sheets of the above chapter in Class 11 Economics in Pdf format from studiestoday. You can print or read them online on your computer or mobile or any other device. After solving these you should also refer to Class 11 Economics MCQ Test for the same chapter.

#### Worksheet for CBSE Economics Class 11 Part A Microeconomics Chapter 3 Production and Costs

CBSE Class 11 Economics best textbooks have been used for writing the problems given in the above worksheet. If you have tests coming up then you should revise all concepts relating to Part A Microeconomics Chapter 3 Production and Costs and then take out a print of the above practice sheet and attempt all problems. We have also provided a lot of other Worksheets for Class 11 Economics which you can use to further make yourself better in Economics

Where can I download latest CBSE Practice worksheets for Class 11 Economics Part A Microeconomics Chapter 3 Production and Costs

You can download the CBSE Practice worksheets for Class 11 Economics Part A Microeconomics Chapter 3 Production and Costs for the latest session from StudiesToday.com

Can I download the Practice worksheets of Class 11 Economics Part A Microeconomics Chapter 3 Production and Costs in Pdf

Yes, you can click on the links above and download chapter-wise Practice worksheets in PDFs for Class 11 for Economics Part A Microeconomics Chapter 3 Production and Costs

Are the Class 11 Economics Part A Microeconomics Chapter 3 Production and Costs Practice worksheets available for the latest session

Yes, the Practice worksheets issued for Part A Microeconomics Chapter 3 Production and Costs Class 11 Economics have been made available here for the latest academic session

How can I download the Part A Microeconomics Chapter 3 Production and Costs Class 11 Economics Practice worksheets

You can easily access the links above and download the Class 11 Practice worksheets Economics for Part A Microeconomics Chapter 3 Production and Costs

Is there any charge for the Practice worksheets for Class 11 Economics Part A Microeconomics Chapter 3 Production and Costs

There is no charge for the Practice worksheets for Class 11 CBSE Economics Part A Microeconomics Chapter 3 Production and Costs you can download everything free

How can I improve my scores by solving questions given in Practice worksheets in Part A Microeconomics Chapter 3 Production and Costs Class 11 Economics

Regular revision of practice worksheets given on studiestoday for Class 11 subject Economics Part A Microeconomics Chapter 3 Production and Costs can help you to score better marks in exams

Are there any websites that offer free Practice test papers for Class 11 Economics Part A Microeconomics Chapter 3 Production and Costs

Yes, studiestoday.com provides all the latest Class 11 Economics Part A Microeconomics Chapter 3 Production and Costs test practice sheets with answers based on the latest books for the current academic session

Can test sheet papers for Part A Microeconomics Chapter 3 Production and Costs Class 11 Economics be accessed on mobile devices

Yes, studiestoday provides worksheets in Pdf for Part A Microeconomics Chapter 3 Production and Costs Class 11 Economics in mobile-friendly format and can be accessed on smartphones and tablets.

Are practice worksheets for Class 11 Economics Part A Microeconomics Chapter 3 Production and Costs available in multiple languages

Yes, practice worksheets for Class 11 Economics Part A Microeconomics Chapter 3 Production and Costs are available in multiple languages, including English, Hindi