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Directorate of Higher Secondary Education (DHSE Kerala)
Class XII
Economics
Production and Costs (Set 01 (Foundation Level))

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Directorate of Higher Secondary Education (DHSE Kerala) Class XII Economics Set 01 (Foundation Level) English Medium 100% Free Practice Test

Directorate of Higher Secondary Education (DHSE Kerala) Class XII Economics: Production and Costs Online Test (Set 01 (Foundation Level)) | TargetExams

Production and Costs — Set 01 (Foundation Level)

Take free online mock test for Directorate of Higher Secondary Education (DHSE Kerala) Class XII Economics chapter 'Production and Costs'. 20 MCQs, 20 minutes, detailed solutions & score analysis.

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20 MCQs

Questions

⏱️

20 Mins

Duration

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20 Marks

Total Marks

➕

+1.0

Per Correct

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0.0

Negative Mark

🌐

English

Language

Start Test Now (English Medium)

Instant Scorecard Step-by-Step Solutions DHSE Kerala SCERT Pattern

Chapter Study Guide & In-Depth Notes

Master the key concepts, vocabulary, and high-yield questions before starting the test.

3 Sections

Chapter Overview & Core Concepts: Production and Costs

Class 12 Study Guide

Mastering Production and Costs in Class 12 provides critical subject intuition, analytical skills, and examination readiness.

Examinations test fundamental principles, definitions, cause-and-effect reasoning, and real-world applications under timed conditions.

Core Moral & Key Takeaway:

Grasping core concepts and practicing with timed chapter-wise CBT tests guarantees top performance in board exams.

Key Terminology, Definitions & Principles

Glossary & Concepts

Term / Formula	Type	Definition / Meaning	Explanation / Notes	Example / Usage
Core Concept	Principle	Primary concept governing Production and Costs.	मुख्य सिद्धांत	"Understand and apply the principle accurately."
Analytical Deduction	Skill	Evaluating evidence to draw correct conclusions.	तार्किक विश्लेषण	"Examine question clues systematically."

Key Features & Devices Explored:

Systematic Elimination

Eliminate distractor choices before selecting the best answer.

Pacing & Accuracy

Complete each question within 60 seconds to maintain steady momentum.

High-Yield Revision Points & Solved Board Exam Q&A

Revision Notes

⚡ High-Yield Exam Takeaways:

Review all key textbook terms, definitions, and formulas.
Pay attention to units, boundary values, and key keywords in questions.
Solve Foundation Set 01 to build confidence, followed by Advanced Set 02 for exam excellence.

Frequently Asked Questions & Model Answers:

Q1 How should students prepare for Production and Costs exams?

Answer: Read the chapter thoroughly, practice step-by-step solved examples, memorize key definitions, and evaluate preparation using timed online CBT mock tests.

Sample Questions Preview

Free Sneak Peek

Here is a sneak peek of the questions included in this test set. Test your preparation by viewing the answer and detailed explanation before starting the timed exam.

What is a **Production Function** in\veconomics?

എന്താണ്\veconomics-ൽ ** പ്രൊഡക്ഷൻ ഫംഗ്‌ഷൻ**?

**The mathematical/technical relationship between the **PHYSICAL INPUTS (Labor, Capital, Land) EMPLOYED AND THE MAXIMUM PHYSICAL OUTPUT PRODUCED** per unit of time: $Q = f(L, K)$*******C1__ INPUTS (തൊഴിൽ, മൂലധനം, ഭൂമി) EMPLOYED AND THE MAXIMUM PHYSICAL OUTPUT PRODUCED** സമയത്തിൻ്റെ യൂണിറ്റ് തമ്മിലുള്ള ഗണിത/സാങ്കേതിക ബന്ധം: $Q = f(L, K)$**

A social function held in a company officeഒരു കമ്പനി ഓഫീസിൽ നടന്ന ഒരു സാമൂഹിക ചടങ്ങ്

The financial balance sheet of a firmഒരു സ്ഥാപനത്തിൻ്റെ സാമ്പത്തിക ബാലൻസ് ഷീറ്റ്

A software used to calculate employee salariesജീവനക്കാരുടെ ശമ്പളം കണക്കാക്കാൻ ഉപയോഗിക്കുന്ന ഒരു സോഫ്റ്റ്‌വെയർ

Correct Answer: Option A

Explanation:

The Production Function $Q = f(L, K)$ models the maximum technological output yield achievable from given combinations of factor inputs.

പ്രൊഡക്ഷൻ ഫംഗ്‌ഷൻ $Q = f(L, K)$ ഫാക്‌ടർ ഇൻപുട്ടുകളുടെ തന്നിരിക്കുന്ന കോമ്പിനേഷനുകളിൽ നിന്ന് നേടാവുന്ന പരമാവധി സാങ്കേതിക ഉൽപ്പാദന വരുമാനം മാതൃകയാക്കുന്നു.

What is the difference between the **Short Run** and the **Long Run** in production theory?

പ്രൊഡക്ഷൻ തിയറിയിലെ **ഷോർട്ട് റൺ**, **ലോംഗ് റൺ** എന്നിവ തമ്മിലുള്ള വ്യത്യാസം എന്താണ്?

**Short Run: A time period where **AT LEAST ONE FACTOR OF PRODUCTION IS FIXED (e.g., Plant/Machinery)** while others are variable (Labor)**; **Long Run: A time period where **ALL FACTORS OF PRODUCTION ARE VARIABLE** (No fixed factors)****ഹ്രസ്വകാല ഓട്ടം: **AT LEAST ONE FACTOR OF PRODUCTION IS FIXED (ഉദാ. പ്ലാൻ്റ്/മെഷിനറി)** മറ്റുള്ളവ വേരിയബിൾ ആയിരിക്കുമ്പോൾ (തൊഴിൽ)**; **ലോംഗ് റൺ: **ALL FACTORS OF PRODUCTION ARE VARIABLE** (നിശ്ചിത ഘടകങ്ങളൊന്നുമില്ല)**

Short run is 1 day; Long run is 100 yearsഷോർട്ട് റൺ 1 ദിവസമാണ്; നീണ്ട ഓട്ടം 100 വർഷമാണ്

Short run is for small companies; Long run is for large companiesചെറുകിട കമ്പനികൾക്കാണ് ഷോർട്ട് റൺ; വലിയ കമ്പനികൾക്ക് ദീർഘകാലാടിസ്ഥാനത്തിലുള്ളതാണ്

Both mean identical calendar timeരണ്ടും അർത്ഥമാക്കുന്നത് ഒരേ കലണ്ടർ സമയമാണ്

Correct Answer: Option A

Explanation:

Short run features at least one fixed factor constraint; Long run provides sufficient temporal horizon to alter all factor inputs dynamically.

ചുരുങ്ങിയത് ഒരു നിശ്ചിത ഘടകം നിയന്ത്രണമെങ്കിലും ഷോർട്ട് റൺ സവിശേഷതകൾ; എല്ലാ ഫാക്ടർ ഇൻപുട്ടുകളും ചലനാത്മകമായി മാറ്റുന്നതിന് ആവശ്യമായ താൽക്കാലിക ചക്രവാളം ലോംഗ് റൺ നൽകുന്നു.

How Chapter-Wise Online CBT Tests Build Winning Habits for Future Competitive Exams

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Competitive Edge

Real-Time Clock Awareness & Pacing

समय प्रबंधन एवं गति नियंत्रण

In school examinations, students write answers without active pacing. In national entrance tests, students have barely 45-60 seconds per MCQ. Practicing with a 20-minute timer instills instinctive time-budgeting and prevents last-minute exam panic.

Mastery of the Elimination Technique

विकल्प निष्कासन विधि में दक्षता

Top rankers in competitive exams rarely compute every problem blindly. They spot subtle traps, evaluate extreme values, and eliminate 2 out of 4 distractors within seconds. Our 4-option sets teach critical distractor analysis.

CBT Screen Stamina & Digital Comfort

कंप्यूटर आधारित परीक्षा का सहज अभ्यास

Almost all major national exams (CUET, JEE, NEET, SSC, Banking) are 100% computer-based. Students who only study on paper experience eye strain and navigation mistakes on exam day. Early CBT practice creates effortless digital fluency.

Immunity to Negative Marking

सटीकता और नकारात्मक अंकन से सुरक्षा

Careless errors—such as misreading "NOT" or "EXCEPT"—ruin thousands of competitive aspirations each year. Regular objective testing builds the habit of double-checking question keywords before locking answers.

Instant Diagnostic Feedback Loop

तत्काल त्रुटि निवारण एवं आत्म-मूल्यांकन

Traditional paper tests take weeks to grade, by which time the student has forgotten their thought process. TargetExams provides instant scorecards and step-by-step solutions while the conceptual puzzle is still fresh.

Syllabus Concepts Evaluated in this Chapter

This test series specifically evaluates the core competencies and learning objectives outlined in the official syllabus:

Core definitions, fundamental theorems, and essential concepts of this chapter.
Step-by-step mathematical reasoning and deductive problem-solving.
Application of standard formulas and operations in real-world scenarios.
Critical examination of common exam pitfalls and misleading options.
Higher-order thinking skill (HOTS) questions to prepare for school examinations.
Speed and accuracy mastery under standard timed CBT exam conditions.

Exam Rules & Test Taking Guidelines

Total Questions: The test consists of exactly 20 objective type questions.
Time Allowed: 20 Minutes countdown timer begins as soon as the test launches.
Marking Scheme: +1.0 mark is awarded for each correct answer.
Zero Penalty: There is 0.0 negative marking for incorrect or unattempted questions.
Question Palette: Freely navigate between questions and flag questions for later review.
Review & Solutions: Access instant scorecard and full step-by-step solutions upon submission.

Frequently Asked Questions (FAQs)

Yes! Foundation Practice Set 01 for every chapter in Directorate of Higher Secondary Education (DHSE Kerala) Class XII Economics is 100% free to attempt. Students can test their knowledge without any payment or hidden fees.

This page is dedicated to English Medium. You can also attempt this test in Hindi Medium by clicking the switcher at the top.

Absolutely. All 20 multiple-choice questions are strictly designed in line with the latest guidelines, covering both basic conceptual understanding and higher-order thinking skills.

The test contains 20 MCQs to be solved in 20 minutes. Each question carries +1.0 mark for a correct answer, and there is zero (0.0) negative marking for incorrect answers.

Yes. Immediately upon submitting your test, you receive a comprehensive performance summary including your total score, accuracy percentage, time spent per question, and full step-by-step explanations for all 20 questions.

Production and Costs (Set 01 (Foundation Level))

20 MCQs • 20 Mins • 100% Free Practice Test

Directorate of Higher Secondary Education (DHSE Kerala) Class XII Economics: Production and Costs Online Test (Set 01 (Foundation Level)) | TargetExams

Chapter Study Guide & In-Depth Notes

Chapter Overview & Core Concepts: Production and Costs