In Economics, ....... refers to any economic activity, which is directed towards satisfaction of human wants.

Production = Satisfaction of Utility. This statement is

Production refers to —

Production refers to —

Production is defined as

Production Function explains the relationship between —

 Production function is_____

In a Production Function, Input means —

In a Production Function, Output means —

Production Function states the relationship between inputs and output, keeping technology

The Law of Variable Proportions analyses the with one factor as variable, keeping quantities of other factors fixed.

Under the Law of Returns to Scale, ................................................ is constant.

Law of Returns to Scale indicates the responsiveness of total product when all inputs

Which of the following statements regarding Short and Long Run Cost Functions is not true?

Which theory proposes that a country could be better off by producing the product in which it has relatively lower Labour Cost and relatively higher Labour productivity?

Suppose the total cost of production of a commodity X is 1,25,000 out of which implicit cost 35,000 and normal profit is
25,000. What would be the explicit cost of commodity?

Accounting Cost equals —

 Incremental Cost equals —

Which of the following statement is true?

Which of the following statement best describes Sunk Costs?