Give meaning of increasing returns to a factor.
What is the law of diminishing marginal product ? [NCERT]
What is the law of variable proportions ? [NCERT]
What is production function ? [AI 2005,06C,08; Delhi 2007,09C; AI, Foreign 2008]
List any three inputs used in production.
What is meant by total physical product (TPP) ?
What is the total product of an input ?