Question : Production refers to
Option 1: Destruction of utility.
Option 2: Creation of utility .
Option 3: Exchange value .
Option 4: Use of a product.
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Correct Answer: Creation of utility .
Solution : The correct option is Creation of utility.
The process of developing products and services that are useful or valuable to consumers is referred to as production. To create output, this Producing goods that fulfill the demands and needs of customers as well as those of society at large is the aim of production, which results in usefulness. This utility may be in the form of convenience, or problem-solving, among others.
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Question : Insensitive cultivation refers to:
Option 1: production with insensitive use of labour
Option 2: production with intensive use of fertiliser
Option 3: raising production by intensive use of existing land
Option 4: raising production by large-scale use of imported inputs
Question : If $(2+\sqrt{3})a=(2-\sqrt{3})b=1$, then the value of $\frac{1}{a}+\frac{1}{b}$ is:
Option 1: $1$
Option 2: $2$
Option 3: $2\sqrt{3}$
Option 4: $4$
Question : If $a^{3}+\frac{1}{a^{3}}=2$, then the value of $\frac{a^{2}+1}{a}$ is ($a$ is a positive number):
Option 1: 1
Option 2: 2
Option 3: 3
Option 4: 4
Question : If $a^{2}+1=a$, the value of $a^{3}$ is:
Option 1: 0
Option 2: 1
Option 3: –1
Option 4: 2
Question : ____ is defined as the output per unit of variable input.
Option 1: Marginal product
Option 2: Production function
Option 3: Total product
Option 4: Average product
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