ICSE Class 12 Economics Chapter 3 MCQ 2 — Production and Costs

Multiple choice question (MCQ) for ICSE Class 12 Economics Chapter 3 (Production and Costs). Practice with answer and detailed explanation.

❓ Question

State and explain the important laws/theorems related to Production and Costs.

A) Production and Costs is directly proportional to the applied force
B) Production and Costs remains constant under all conditions
C) Production and Costs varies according to the fundamental principle ✓ Correct Answer
D) None of the above statements about Production and Costs are correct

📖 Explanation

The correct answer is C because Production and Costs follows the fundamental principle that governs its behavior under given conditions. Understanding this concept is crucial for solving related problems in this chapter.

📚 About This Chapter

This chapter covers Production and Costs in Class 12 Economics. Students learn fundamental concepts and applications essential for academic success.

This MCQ tests your understanding of Production and Costs. Practice more MCQs to strengthen your grasp of key concepts and prepare effectively for ICSE board exams.

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