What is the law of diminishing marginal product ? [NCERT]
What is the law of variable proportions ? [NCERT]
Give meaning of increasing returns to a factor.
What is meant by returns to a factor ? [Delhi 2006; AI 2009C]
What is production function ? [AI 2005,06C,08; Delhi 2007,09C; AI, Foreign 2008]
List any three inputs used in production.