agricultural economics MCQs – Page 3

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

agricultural economics Mcqs

41. A minimum price which govt. allows seller to receive for a good or service____________________?
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A. Ceiling Price

B. Floor Price

C. Supprot Price

D. All

42. Cooperation among unification of the economies of different nations is termed as_____________________?
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A. Economic integration

B. none

C. Economic Bloc

D. Economic union

43. All points on the production possibility curve explain__________________?
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A. Less than full use of resources

B. Productive efficiency

C. Allocative efficiency

D. Unattainable levels of output

44. The determination by the state, of what shall be produced and how factors of production shall be allocated among different uses ?
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A. Circular flow model

B. None

C. Centralized planning

D. Cognitive planning

45. Opportunity cost is illustrated by the___________________?
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A. Positive slope

B. Steep slope

C. None

D. Downward slope

46. The households and the business firms of the economy are called__________________?
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A. Public sector

B. None

C. Ptivate sector

D. Govt sector

47. A good used together with another good is___________________?
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A. None

B. Normal good

C. Complementary good

D. Superior good

48. All the goods and services produced in a country in a year plus other sources of income for example foreign exchange earnings, foreign aid, foreign remittance, loans etc are called ?
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A. GDP

B. NDP

C. NNp

D. GNP

49. An asset set aside for future use is termed as_______________________?
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A. Future planning

B. None

C. Store of value

D. Speculation

50. A type of unemployment caused by insufficient total spending___________________?
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A. Cyclical unemployment

B. Under employment

C. None

D. Underdevelopment

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

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