Please refer to CBSE Class 12 Economics HOTs Production and Costs. Download HOTS questions and answers for Class 12 Economics. Read CBSE Class 12 Economics HOTs for Part A Microeconomics Chapter 3 Production and Costs below and download in pdf. High Order Thinking Skills questions come in exams for Economics in Class 12 and if prepared properly can help you to score more marks. You can refer to more chapter wise Class 12 Economics HOTS Questions with solutions and also get latest topic wise important study material as per NCERT book for Class 12 Economics and all other subjects for free on Studiestoday designed as per latest CBSE, NCERT and KVS syllabus and pattern for Class 12
Part A Microeconomics Chapter 3 Production and Costs Class 12 Economics HOTS
Class 12 Economics students should refer to the following high order thinking skills questions with answers for Part A Microeconomics Chapter 3 Production and Costs in Class 12. These HOTS questions with answers for Class 12 Economics will come in exams and help you to score good marks
HOTS Questions Part A Microeconomics Chapter 3 Production and Costs Class 12 Economics with Answers
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Question. The shape of the Total Physical Product short run is
1. Inverse U-Shaped
2. U-Shaped
3. Hyperbola
4. V-Shaped
Answer : Inverse U-Shaped
Question. What will be the marginal product when the total product is maximum?
Answer : Marginal Product will be zero when the total product is maximum.
Question. What do you mean by production?
Answer : Production is the method of producing or developing goods or services in large quantities with the help of various materials.
Question. When the returns to a factor decline the marginal and the total product also decline.
Answer : False, when returns to a factor decline only Marginal Physical Product declines.
Question. Why Average Fixed Cost curve never touches “x” axis though lies very close to the x-axis?
Answer : The Average Fixed Cost curve never touches “x” axis though lies very close to the x-axis because Total Fixed Cost can never be zero.
Question. When TVC is zero at zero levels of output, what happens to TFC or why TFC is not zero at zero level od output?
Answer : When TVC is zero at zero levels of output, what happens to TFC or why TFC is not zero at zero levels of output because the fixed cost is to be acquired even at zero levels of output.
Question. Define cost concept. What are the different types of cost?
Answer : The spending experienced on different inputs is known as the cost.
Types of cost
• Money Cost- Total money spent by a company for manufacturing goods.
• Explicit Cost & Implicit Cost- Payment made to an outsider are explicit and self-supplied are implicit cost.
• Real Cost- All hard work, discomforts, sacrifices involved in manufacturing a product is called real cost.
• Opportunity Cost- This the cost for the next best alternative foregone.
• Short Run Cost- Fixed cost- Fixed factors cost Variable Cost– Variable factor cost
Question. Why does average fixed cost fall with increase in output?
Answer : AFC can be calculated from TFC. Which remains constant at all level of output.
Question. Under which situation will MR fall when an additional quantity of a good is sold?
Answer : When per unit price falls by selling an additional unit of a good.
Question. Give one differences between law of supply and price elasticity of supply.
Answer : Law of supply reflects the direction of change in supply where as price elasticity of supply measures the magnitude of change in supply.
Question. Why does a producer moves downward along a supply curve due to decrease in price of commodity?
Answer : Because profit margin of firm (producer) decreases.
Question. When does the supply curve shift rightward while price remains constant.
Answer : When the supply of commodity increases due to change in other factors.
Question. How does the imposition of a tax affect the supply curve of a firm?
Answer : The supply curve will shift to the left side.
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CBSE Class 12 Economics Part A Microeconomics Chapter 3 Production and Costs HOTS
We hope students liked the above HOTS for Part A Microeconomics Chapter 3 Production and Costs designed as per the latest syllabus for Class 12 Economics released by CBSE. Students of Class 12 should download the High Order Thinking Skills Questions and Answers in Pdf format and practice the questions and solutions given in above Class 12 Economics HOTS Questions on daily basis. All latest HOTS with answers 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 score in school tests and examinations. Studiestoday is the best portal for Class 12 students to get all latest study material free of cost.
HOTS for Economics CBSE Class 12 Part A Microeconomics Chapter 3 Production and Costs
Expert teachers of studiestoday have referred to NCERT book for Class 12 Economics to develop the Economics Class 12 HOTS. If you download HOTS with answers for the above chapter daily, you will get higher and better marks in Class 12 test and exams in the current year as you will be able to have stronger understanding of all concepts. Daily High Order Thinking Skills questions practice of Economics and its study material will help students to have stronger understanding of all concepts and also make them expert on all critical topics. You can easily download and save all HOTS for Class 12 Economics also from www.studiestoday.com without paying anything in Pdf format. After solving the questions given in the HOTS which have been developed as per latest course books also refer to the NCERT solutions for Class 12 Economics designed by our teachers
Part A Microeconomics Chapter 3 Production and Costs HOTS Economics CBSE Class 12
All HOTS given above for Class 12 Economics have been made as per the latest syllabus and books issued for the current academic year. The students of Class 12 can refer to the answers which have been also provided by our teachers for all HOTS of Economics so that you are able to solve the questions and then compare your answers with the solutions provided by us. We have also provided lot of MCQ questions for Class 12 Economics in the HOTS so that you can solve questions relating to all topics given in each chapter. All study material for Class 12 Economics students have been given on studiestoday.
Part A Microeconomics Chapter 3 Production and Costs CBSE Class 12 HOTS Economics
Regular HOTS 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. HOTS play an important role in developing an understanding of Part A Microeconomics Chapter 3 Production and Costs in CBSE Class 12. Students can download and save or print all the HOTS, printable assignments, and practice sheets of the above chapter in Class 12 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 12 Economics MCQ Test for the same chapter
CBSE HOTS Economics Class 12 Part A Microeconomics Chapter 3 Production and Costs
CBSE Class 12 Economics best textbooks have been used for writing the problems given in the above HOTS. 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 print of the above HOTS and attempt all problems. We have also provided a lot of other HOTS for Class 12 Economics which you can use to further make yourself better in Economics.
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Regular revision of HOTS given on studiestoday for Class 12 subject Economics Part A Microeconomics Chapter 3 Production and Costs can help you to score better marks in exams
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