NCERT Solutions are contemplated as an exceptionally helpful book while preparing for the CBSE Class 12 Economics examinations. This study resource possesses an intense knowledge and the Solutions collated by the subject matter experts are no different.
NCERT Solution for Class 12 Economics Chapter 3 – Production and Costs gives a brief presentation of the concept. This can be termed as – ‘Theory of production – Cost Theory’ as well. In the Cost Theory, there are 2 types of costs analogous to production – Fixed Cost and Variable Cost.
- Fixed Cost – Fixed costs are costs that do not differ with different degrees of production and fixed costs survive even if output is zero.
- Variable Cost – Variable Costs are costs that differ with the degree of output.
NCERT solutions for class 12 Economics chapter 3 provides a broad degree of illustrative examples; which helps the students to comprehend and learn quickly. The above mentioned is the illustrations for class 12 CBSE syllabus. For more solutions and study materials of NCERT solutions for class 12 Economics visit BYJU’S or download the app for more information and the best learning experience.