agricultural economics Mcqs
51. A legal entry chartered by a state or the federal govt. which is district and separate from the individuals who own it ?
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A. Co-operative

B. Corporation

C. Partnership

D. None

52. A film on economics in which economists study and observe the details of an economic unit or a very small judgment of economy is__________________?
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A. Micro economic

B. Macroeconomic

C. Normative economic

D. Positive economic

53. A curve showing the distribution of income in an economy___________________?
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A. Investment damage curve

B. Income budget line

C. Lorenz curve

D. Indifference curve

54. A commercial bank authorized by state govt. to engage in business of banking ?
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A. State Bank

B. None

C. Business authorized bank

D. National Bank

55. A technological innovation that increase the production while using the same capital input?
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A. Production intensive technique

B. Capital saving technological process

C. Capital intensive technique

D. None

56. Productive efficiency means___________________?
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A. Producing the desired ones only

B. None

C. Producing all output combinations in the least costly way

D. Producing the specific output mix most desired by society

57. Reproduction in the average total cost of producing a products as the firm expands the size of plants (its output) in the long run________________?
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A. Economics of scale

B. Economics of mass production

C. Both of these

D. None of these

58. Hitler introduced ?
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A. Command economy

B. Traditional economy

C. Authoritarian economy

D. Mixed economy

59. The extreme case of physical resource endowment is ________________?
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A. Gulf oil states

B. USSR

C. South Africa

D. United states America

60. All goods and services produced in a country in one year are called its__________________?
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A. GNP

B. GDP

C. None of these

D. NDP

61. A measure of average output or real output per unit of input is called____________________?
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A. Productivity

B. None

C. Efficiency

D. Production

62. Increases in the price level resulting from an excess of demand over output at the existing price level, caused by an increase in aggregate demand ?
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A. None

B. Both

C. Stagflation

D. Demand pull inflation
63. An increase either in real output (GDP) or in real output per capita is called___________________?
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A. Economic efficiency

B. Economic development

C. Economic growth

D. Growth rate

64. The total amount buyers of goods and services sped or plan to spend____________________?
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A. Total spending

B. Aggregate spending

C. Both a and b

D. None

65. The private ownership of resources and use of a system of market and prices to coordinate and direct economic activity________________?
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A. Pure capitalism

B. Both

C. None

D. Iaissez faire capital

66. structural transformation of primary subsistence economy for economic development war proposed by ?
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A. Keynes

B. Rostow

C. Arthur Lewis

D. Carl Marx

67. An organization which employs resources to produce a good or service for profit and own and operates one or more plants is called_______________?
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A. Factory

B. None

C. Company

D. Firm
68. A measure of the real purchasing power of the community ?
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A. All

B. Total expenditure

C. Total effective demand

D. Aggregate demand

69. A bank which lends to developing nations to help them increase their capital stock and this achieve economic growth ?
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A. None

B. IMF

C. Commercial bank

D. Islamic Bank

70. Problems that occur to the individuals or society as a whole as a result of the unpopular consumption habits. Of another individual e.g drug addiction ?
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A. Ammunity

B. None of these

C. Consumption diseconomies

D. Commune
71. Directing domestic resources to output which a nation is highly efficient at producing is called____________________?
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A. Speculation

B. International specialization

C. None

D. International Trade

72. ______________assumes economic rationality and purely materialistic, individualistic, self interested orientation towards economic decision making?
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A. Capitalistic economy

B. Traditional economy

C. Political economy

D. Open economy

73. Any point inside the production possibility curve represents ?
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A. Unemployment

B. Failure to achieve productive efficiency

C. Both A. and B.

D. None of these

74. The total number of people living below a specified minimum level of real income, an international poverty line, is called ?
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A. Absolute poor

B. Relative poor

C. Real poverty

D. None

75. A benefit or cost from production or consumption accruing without compensation to non buyers and non/sellers of the product is called_________________?
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A. anti dumping

B. Specialization

C. Spill over

D. Speculation

76. Total consumption deducted from total income is called__________________?
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A. Gross income

B. Net income

C. Saving

D. None of these

77. Upward shift of the demand curve is due to_________________?
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A. Decrease in quantity demanded

B. Increase in demand

C. Changing in quantity demanded

D. None

78. A payment of money or goods & services by a govt. to a household or firm for which the payer receives no good or service directly in return______________?
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A. Transfer payment

B. Tariff

C. Tax

D. Subsidy

79. The body of knowledge and techniques which can be used to produce goods and service from economic resources is________________?
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A. None

B. Both

C. Technology

D. Advanced knowledge

80. The sacrifice of some or all one economic goal, good, or services to achieve some other goal, good or service is called__________________?
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A. Trade offs

B. Trade union

C. All

D. Trade block

81. All LDCs require to take off into a period of self-sustaining economic growth is a massive investment program designed to promote rapid industrialization and the building up of economic infrastructure. ?
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A. Harod Domes model

B. Economic development theory

C. Rostows development plan

D. Big Push theory of development
82. When price for one and demand for other move in same direction we say them___________________?
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A. Supplementary

B. Substitutes

C. None

D. Complementary

83. The demand schedule or the demand curve of all buyers of a good or service is called____________________?
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A. Market demand

B. None

C. Total demand

D. Both
84. The price paid for the use of services of labour per unit of time is called__________________?
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A. Salary

B. Income

C. All

D. Wage
85. Allocative efficiency is__________________?
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A. None

B. Producing the specific output mix most desired by society

C. Producing all output combinations in least costly way

D. Producing the desired things

86. A legally determined price above the equilibrium price is__________________?
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A. None

B. Ceiling price

C. Equilibrium price

D. Floor price
87. Stage of growth model development was porposed by____________________?
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A. Harrod Dommer

B. Keynes

C. Theodore

D. Rostow
88. From of central bank that issues domestic currency for foreign exchange at fixed rates ?
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A. Commercial Bank

B. State Bank

C. Stock exchange

D. Currency board

89. Agriculture contribution in GNP of developing nations ?
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A. 3 %

B. 13%

C. 21%

D. 15%

90. Using part of income/saving for more income is called_________________?
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A. Consumption

B. Investment

C. Entrepreneurship

D. Busyness

91. Selling public assets to individuals or private business interests ?
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A. Downsizing

B. Privatization

C. Publication

D. All

92. Employment available resources so that the maximum amount of goods and services is produced?
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A. Fringe benefits

B. Large scale production

C. None

D. Full production
93. The export of goods (or goods and services) of a nation less its imports of goods (or goods and services)__________________?
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A. Trade surplus

B. Trade Balance

C. Trade deficit

D. None

94. An institution or mechanism which brings together buyers and sellers is called____________________?
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A. Product Market

B. Market

C. None

D. Resource Market

95. A particular set of institutional arrangement and a coordinating mechanism is___________________?
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A. Economic system

B. Mixed system

C. Fascism

D. None

96. An industry in which expansion through the entry of firms decreases the prices, firms in the industry must pay for resources and there fore decreases their production costs ?
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A. Decreasing cost industry

B. None

C. Both

D. Declining industry

97. A rise in the general level of prices in an economy___________________?
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A. Dearnen

B. Both

C. None

D. Inflation
98. A line which shows different combinations of two products a consumer can purchase with a specific money income, given the products price?
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A. Indifference curve

B. Budget line

C. Says law

D. Lorenz curve

99. To charge different prices for the goods of the same standard is called___________________?
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A. Prices elasticity

B. Oligopoly

C. Prices discrimination

D. Prices differentiation

100. A condition when there is excessive produce in the market which lowers down the price is called__________________?
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A. Perfect market

B. All of these

C. Market glut

D. Imperfect market