Production and consumption takes place simultaneously in the case of

Related MCQs

• Consumption of capital good in the process of production is called as:
• The proportion between total income and total consumption is called:
• The proportion between incremental income and incremental consumption is called:
• Value of output minus intermediate consumption is:
• As income increases consumption also increases, but:
• Consumption expenditure directly varies with:
• The term production refers to:
• The choice of techniques of production is related to the problem of
• A rational producer will select his level of production in which stage of the law of variable proportions
• Returns to scale refers to the production function where