agricultural economics MCQs – Page 3

Practise focused agricultural economics questions with marked answers for exam preparation and subject revision.

agricultural economics Mcqs
101. Labour force engage in Agriculture in economically developed nations ?
comments icon0
A. 5%

B. 2%

C. 15%

D. 10%

102. An organization of producers agreeing to limit the output of their product in an effort to raise prices and profit ?
comments icon0
A. Cartel

B. Buffer stock

C. Capital account

D. Capital account

103. In richer nations children are______________% of the dependents?
comments icon0

A. 45%

B. 66 %

C. 60%

D. 70%

104. Production possibility curve is always concave because ?
comments icon0

A. The curve gets steeper as we move downward

B. Resources are scarce

C. In reflects the law of increasing opportunity cost

D. The marginal benefit decreases as more of a good is consumed

105. The attainment of literacy, arithmetic competence and elementary vocational skills ?
comments icon0

A. All

B. Basic education

C. Primary education

D. Basic qualifications

106. A closed economy that attempts to be completely self-reliant ?
comments icon0
A. Autarchy

B. Amortization

C. None

D. Command economy

107. A decrease in the governmentally defined value of currency ____________________?
comments icon0

A. Inflation

B. Devaluation

C. All

D. Cheapness

108. A tax imposed by a nation on an imported good is called_________________?
comments icon0

A. Net profit

B. GNP

C. Foreign exchange

D. Tariff
109. The sale of products below sale of production in a foreign country or below the prices charged at home is called ?
comments icon0

A. Monopoly

B. Dumping

C. Subsidy

D. Inflation

110. The process of deriving principles is called___________________?
comments icon0

A. theoretical economics

B. Economics analysis

C. Both A. and B.

D. None of these

111. Urban population in LDCs_________________?
comments icon0

A. 50%

B. 36 %

C. 464%

D. 20%

112. Commodities whose demand varies directly with money income are called______________________?
comments icon0
A. Superior or normal goods

B. Substitutes

C. Complementary goods

D. None

113. A large govt. role and some degree of coordinated economic decision making directed towards transforming the economy are usually viewed as essential components of__________________?
comments icon0

A. Political economics

B. Development economics

C. Tradititional economics

D. None

114. Legally established maximum price of a good or service__________________?
comments icon0
A. Ceiling price

B. None

C. Floor price

D. Max price

115. determinants of demand are some times referred as__________________________?
comments icon0

A. Demand determinants

B. Demand effectors

C. none

D. Demand shifters
116. Wealth of nations was written by_________________?
comments icon0
A. Adam Smith

B. Lewis

C. Keynes

D. Rostow

117. The part of economy which contains all govt. entities is called__________________?
comments icon0

A. Public utility

B. None

C. Public sector

D. Private sector

118. The percentage of labour force unemployment at any time__________________?
comments icon0

A. None

B. Deflation rate

C. Inflation rate

D. Unemployment rate
119. A physical establishment which performs one or more functions in production, fabrication and distribution of goods and services ?
comments icon0
A. Plant

B. Firm

C. Factory

D. None

120. An economic system in which traditions and customs determine how the economy would use its scare resources ?
comments icon0

A. Mixed economy

B. capitalistic economy

C. Traditional economy

D. Command economy

121. Urban migration is causing the labour force to grow at annual rates of _____________in LDC?
comments icon0

A. 30-35%

B. 10-20%

C. 35-40%

D. 5-7%
122. An accounting item which increase the value of an asset___________________?
comments icon0
A. Credit

B. Debit

C. None

D. Loan

123. In less developed nations economic dependency burden is__________________?
comments icon0
A. 45 % of the population

B. 55 % of the population

C. 35 % of the population

D. 65 % of the population

124. In ___________________ we avoid value judgments and focus on facts?
comments icon0

A. Normative economics

B. factual economics

C. Theoretical economics

D. Positive economics
125. Tax levied on production of specific product on quantity of product purchased ?
comments icon0

A. All

B. Excise tax

C. Income tax

D. Sales tax

126. Stocks of commodities held by the countries or international organizations to moderate the commodities price fluctuations ?
comments icon0

A. Capital stocks

B. Buffer stocks

C. Speculation

D. Black market

127. An analytic approach in which we move from facts to theory, from a particular to general is called____________________?
comments icon0

A. Generalization

B. Deduction

C. Induction

D. Randomization

128. An economic system in which property resources are privately owned and markets and prices are used to direct and coordinate economic activities________________?
comments icon0
A. Pure capitalism

B. Closed economy

C. Open economy

D. Command Economy

129. A process of production that uses a higher proportion of capital as compared to other factors of production ?
comments icon0

A. Capital intensive technique

B. Labour intensive technique

C. Both a and b

D. None of these

130. Economics is the study of causes of material welfare was defined by___________________?
comments icon0
A. Marshall

B. Marks

C. Robins

D. Adam Smith

131. The amount by which a nations export of goods (or goods and services) exceeds its import of goods or goods and services is_______________?
comments icon0

A. None

B. Trade surplus

C. Trade deficit

D. Trade off

132. Rural based population in less developed countries (LDCs) ?
comments icon0

A. 75%

B. 65 %

C. 45%

D. None

133. A market in which products are sold by firms and bought by households is_________________?
comments icon0

A. None

B. Product market

C. Resource market

D. Consumer market

134. A schedule showing the amounts households plan to spend for consumer goods at different levels of disposable income is called________________?
comments icon0

A. Saving schedule

B. Consumption schedule

C. None

D. Income schedule

135. Excess of total revenue over total costs_______________?
comments icon0
A. Both

B. Scarcity rent

C. None

D. Producer surplus

136. People who are eager and able to work but for whom no suitable jobs are available?
comments icon0

A. Disguised employment

B. Open unemployment

C. Unemployment

D. Under employment

137. In least developed nations dependent children are__________________?
comments icon0

A. 50%

B. 60%

C. 90 %

D. 70%

138. Activities of central bank designed to influence financial variables such as money supply and interest rates?
comments icon0

A. Fiscal policy

B. Economic policy

C. None

D. Monitory policy

139. Any system that features one price for sellers and another for buyers ?
comments icon0

A. None

B. Dual price system

C. Ceiling pricing

D. Floor pricing

140. A firm which engages in in the busyness of banking_________________?
comments icon0

A. World bank

B. None

C. State bank

D. Commercial bank
141. Recurring increase and decrease in the level of economic activity over periods of years?
comments icon0

A. Both

B. Cyclic flow

C. None

D. Business cycle
142. A tax which is a constant amount at all levels of GDP is termwd as ?
comments icon0
A. Lump sum tax

B. Surcharge

C. Fixed tax

D. None

143. A ratio that shows the unit of capital required to produce a unit of output over a given period of time?
comments icon0

A. Capital output ratio

B. None

C. Capital input ratio

D. Capital intensive ratio

144. A cooperative farm or other collectively organized unit ?
comments icon0
A. Corporation

B. Commune

C. All

D. Society

145. The increasing integration of national economies into expanding international market ?
comments icon0

A. None

B. Randomization

C. Economic integration

D. Globalization
146. To obtain the greates utility consumer should allocate money income so that last dollar spent on each good or service yields the same marginal utility ?
comments icon0

A. Say law

B. Law of diminishing marginal utility

C. Law of diminishing return

D. Say law

147. The study of how economies are transformed from stagnation to growth and from low income to higher income status?
comments icon0

A. All

B. Econometrics

C. Development economics

D. Development plan

148. A. Cetris peribus stands for__________________?
comments icon0
A. All else being equal

B. Same as given before

C. Let it be

D. None

149. Year number of deaths per 1,000 population is called?
comments icon0

A. None

B. Both

C. Death rates

D. Crude mortality rate

150. Income that is available to house holds for spending and saving after personal, income taxes have been deducted ?
comments icon0

A. Net income

B. Saving

C. Disposable income

D. All