agricultural economics MCQs – Page 5

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

agricultural economics Mcqs

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

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