agricultural economics MCQs – Page 4

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

agricultural economics Mcqs

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

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