Question 25 of 39
Q.The functional relationship between "inputs" and "outputs" is called as ______.
(a) Savings function
(b) Consumption function
(c) Investment function
(d) Production function
Puducherry TnboardTamil Nadu HSC First Year (DGE) Commerce Board 2024MCQ· 1mImportance★★★★★
64% · 25/39 Questions
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Start your 14-day free trial to unlock the full solution →The correct option is (d) Production function: it links inputs to output.
A production function states the maximum output that can be obtained from any given combination of factor inputs (land, labour, capital, organisation), for a given state of technology. Symbolically Q = f(L, K, …). It is a technical, not a monetary, relationship.
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