Production and Costs MCQ Questions Class 12 Economics Chapter 3
NCERT MCQ Questions for Class 12 Economics Chapter 3 Production and Costs. Production and Costs MCQ Questions with Answers from Class 12 Economics.
1.) The difference between the revenue and cost is called
(a) The firm’s profit
(b) The firm’s lose
(c) The firm’s Revenue
(d) The firm’s output
Ans -Option (a)
2………….is defined as the output per unit of variable input.
(a) Total product
(b) Average product
(c) Marginal product
(d) None of there
Ans – Option (b)
3…………..of an input is defined as the change in output per unit of
change in the input when all other inputs are held constant.
(a)Total product
(b) Average product
(c) Marginal product
(d) None of there
Ans – Option (c)
- In case you have missed:- Previous Chapter MCQ Questions
4.The RBI can influence money supply by changing the rate at which it gives
loans to the commercial banks.
(a)Fix rate
(b)Bank rate
(c)prime rate
(d)none of there
Ans -Option (b)
5.Which bank is lender of last resort.
(a) commercial bank
(b) Reverse bank
(c) State Bank
(d)central bank
Ans – option (d)
6.Which bank controls the money supply in the economy.
(a) Commercial bank
(b) Reverse bank
(c) State Bank
(d) central bank
Ans – Option (b)
- In case you have missed:- Next Chapter MCQ Questions
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