Match List-I with List-II:
| List-I | List-II | ||
|---|---|---|---|
| (A) | Technology improves | (I) | A new production function |
| (B) | Efficiency | (II) | Maximum output for various quantities of inputs used |
| (C) | Production function | (III) | No more output can be obtained from the same level of inputs |
| (D) | Isoquant | (IV) | Input combinations that yield the same maximum possible output |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → (A)-(I), (B)-(III), (C)-(II), (D)-(IV)
All four items come from the idea of the production function, the link between inputs and the most output they can give.
| List-I | List-II | Reason |
|---|---|---|
| (A) Technology improves | (I) A new production function | Better technology raises the maximum output from each input combination, so a new production function results. |
| (B) Efficiency | (III) No more output can be obtained from the same level of inputs | Efficiency means no more output can be had from the same inputs. |
| (C) Production function | (II) Maximum output for various quantities of inputs used | For each quantity of inputs, the production function gives the maximum output. |
| (D) Isoquant | (IV) Input combinations that yield the same maximum possible output | An isoquant joins the input combinations that give the same maximum output. |
NCERT (2026-27): “3.1 Production Function The production function of a firm is a relationship between inputs used and output produced by the firm. For various quantities of inputs used, it gives the maximum quantity of output that can be produced.” “3.1 Production Function … A production function is defined for a given technology. It is the technological knowledge that determines the maximum levels of output that can be produced using different combinations of inputs. If the technology improves, the maximum levels of output obtainable for different input combinations increase. We then have a new production function.” “3.1 Production Function … Describing a production function in this manner tells us the exact relation between inputs and output. If either K or L increase, q will also increase. For any L and any K, there will be only one q. Since by definition we are taking the maximum output for any level of inputs, a production function deals only with the efficient use of inputs. Efficiency implies that it is not possible to get any more output from the same level of inputs.” “Isoquant In Chapter 2, we have learnt about indifference curves. Here, we introduce a similar concept known as isoquant. It is just an alternative way of representing the production function. Consider a production function with two inputs labour and capital. An isoquant is the set of all possible combinations of the two inputs that yield the same maximum possible level of output. Each isoquant represents a particular level of output and is labelled with that amount of output. …” |