Free CBSE Class 11 Microeconomics Chapter 7 Production Function and Returns to a Factor Notes PDF
Production Function explains the technical relationship between inputs and output. The chapter studies short-run production through total, average and marginal product and the three stages of the law of variable proportions.
Board: CBSE · Class: 11 · Updated: 2026-08-31 · Access: Free, no registration
Important topics covered
- Production function and factors of production
- Short run and long run
- Total, average and marginal product
- Relationship among TP, AP and MP
- Law of variable proportions and its stages
Exam-focused revision checklist
- Calculate AP and MP from a production schedule.
- Explain the TP-MP and AP-MP relationships.
- Identify the rational stage of production with reasons.
Important questions with answer guidance
What should students explain about Production function and factors of production?
Production function and factors of production is an important part of Production Function and Returns to a Factor. Begin with its meaning, explain the main elements or relationship clearly, and support the answer with an example, schedule or diagram wherever the chapter requires it. Calculate AP and MP from a production schedule.
What should students explain about Short run and long run?
Short run and long run is an important part of Production Function and Returns to a Factor. Begin with its meaning, explain the main elements or relationship clearly, and support the answer with an example, schedule or diagram wherever the chapter requires it. Explain the TP-MP and AP-MP relationships.
What should students explain about Total, average and marginal product?
Total, average and marginal product is an important part of Production Function and Returns to a Factor. Begin with its meaning, explain the main elements or relationship clearly, and support the answer with an example, schedule or diagram wherever the chapter requires it. Identify the rational stage of production with reasons.
What should students explain about Relationship among TP, AP and MP?
Relationship among TP, AP and MP is an important part of Production Function and Returns to a Factor. Begin with its meaning, explain the main elements or relationship clearly, and support the answer with an example, schedule or diagram wherever the chapter requires it. Calculate AP and MP from a production schedule.
Chapter MCQs with answers
MCQ 1: Which of the following is directly covered in Chapter 7: Production Function and Returns to a Factor?
- Meaning and scope of economics
- What, how and for whom to produce
- Meaning and measurement of utility
- Production function and factors of production
Answer: D. Production function and factors of production is one of the core topics covered in this chapter.
MCQ 2: Which of the following is directly covered in Chapter 7: Production Function and Returns to a Factor?
- Short run and long run
- Production possibility curve and schedule
- Total utility and marginal utility relationship
- Indifference curve and indifference map
Answer: A. Short run and long run is one of the core topics covered in this chapter.
MCQ 3: Which of the following is directly covered in Chapter 7: Production Function and Returns to a Factor?
- Law of diminishing marginal utility
- Total, average and marginal product
- Properties of indifference curves
- Law of demand and its assumptions
Answer: B. Total, average and marginal product is one of the core topics covered in this chapter.
MCQ 4: Which of the following is directly covered in Chapter 7: Production Function and Returns to a Factor?
- Budget set and budget line
- Movement along and shift of the demand curve
- Relationship among TP, AP and MP
- Geometric or point method
Answer: C. Relationship among TP, AP and MP is one of the core topics covered in this chapter.
Download Production Function and Returns to a Factor notes PDF for CBSE Class 11 Microeconomics
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Frequently asked questions
Are these Production Function and Returns to a Factor notes free?
Yes. The complete CBSE Class 11 chapter PDF can be viewed online or downloaded without payment or registration.
What is covered in Chapter 7?
The notes cover Production function and factors of production, Short run and long run, Total, average and marginal product and the other important concepts listed on this page.
How should I use these notes for CBSE exam revision?
Start with the overview, revise each key topic, read the complete PDF and finish with the exam checklist, important questions and MCQs. Also practise NCERT questions and the latest official CBSE sample papers.
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- MCQs with Answers - Production Function and Returns to a Factor
- Important Questions - Production Function and Returns to a Factor
- One-shot Revision - Production Function and Returns to a Factor
- Assertion–Reason - Production Function and Returns to a Factor
- Numericals - Production Function and Returns to a Factor
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