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Q. Assertion : The atmospheric concentration of $CO _{2}$ at which photosynthesis just compensates for respiration is referred to as $CO _{2}$ compensation point.
Reason : The $CO _{2}$ compensation point is reached when the amount of $CO _{2}$ uptake is less than that generated through respiration because the level of $CO _{2}$ in the atmosphere is more than that required for achieving $CO _{2}$ compensation point.

AIIMSAIIMS 2005

Solution:

The point at which $CO _{2}$ released in respiration is exactly compensated by $CO _{2}$ fixed in photosynthesis is called compensation point. Since, the rate of fixation of $CO _{2}$ in photosynthesis just balances the rate of $CO _{2}$ released in respiration, the net photosynthesis is zero at compensation point.