List - I (Concepts)
List - II (Definitions)
A. Returns to a Factor
I. The total quantity of output produced by using a variable input while holding other inputs constant
B. Law of Variable Proportions
II. The change in total output resulting from a change in the quantity of one factor of production
C. Returns to Scale
III. The relationship between the inputs and output when all factors of production change in the same proportion
D. Law of Diminishing Marginal Returns
IV. As more units of a factor are added to a fixed amount of other factors, the additional output produced diminishes
| List - I (Concepts) | List - II (Definitions) |
|---|---|
| A. Returns to a Factor | I. The total quantity of output produced by using a variable input while holding other inputs constant |
| B. Law of Variable Proportions | II. The change in total output resulting from a change in the quantity of one factor of production |
| C. Returns to Scale | III. The relationship between the inputs and output when all factors of production change in the same proportion |
| D. Law of Diminishing Marginal Returns | IV. As more units of a factor are added to a fixed amount of other factors, the additional output produced diminishes |
1
(A) - (I), (B) - (II), (C) - (III), (D) - (IV)
2
(A) - (II), (B) - (III), (C) - (I), (D) - (IV)
3
(A) - (III), (B) - (I), (C) - (II), (D) - (IV)
4
(A) - (IV), (B) - (II), (C) - (I), (D) - (III)