agricultural economics MCQs – Page 6

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 ?
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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 ?
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A. Cartel

B. Buffer stock

C. Capital account

D. Capital account

103. In richer nations children are______________% of the dependents?
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A. 45%

B. 66 %

C. 60%

D. 70%

104. Production possibility curve is always concave because ?
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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 ?
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A. All

B. Basic education

C. Primary education

D. Basic qualifications

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

B. Amortization

C. None

D. Command economy

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

B. Devaluation

C. All

D. Cheapness

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

B. Dumping

C. Subsidy

D. Inflation

110. The process of deriving principles is called___________________?
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A. theoretical economics

B. Economics analysis

C. Both A. and B.

D. None of these

111. Urban population in LDCs_________________?
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A. 50%

B. 36 %

C. 464%

D. 20%

112. Commodities whose demand varies directly with money income are called______________________?
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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__________________?
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A. Political economics

B. Development economics

C. Tradititional economics

D. None

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

B. None

C. Floor price

D. Max price

115. determinants of demand are some times referred as__________________________?
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A. Demand determinants

B. Demand effectors

C. none

D. Demand shifters

116. Wealth of nations was written by_________________?
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A. Adam Smith

B. Lewis

C. Keynes

D. Rostow

117. The part of economy which contains all govt. entities is called__________________?
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A. Public utility

B. None

C. Public sector

D. Private sector

118. The percentage of labour force unemployment at any time__________________?
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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 ?
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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 ?
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A. Mixed economy

B. capitalistic economy

C. Traditional economy

D. Command economy

Showing 101 to 120 of 236 mcqs