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Up To Date Agricultural Economics Mcqs ( Agriculture ) MCQs – Updated Agriculture MCQs

Up To Date Agricultural Economics Mcqs ( Agriculture ) MCQs – Updated Agriculture MCQs

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Latest Agriculture MCQs

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Latest Agricultural Economics Mcqs ( Agriculture ) Mcqs

The most occurred mcqs of Agricultural Economics Mcqs ( Agriculture ) in past papers. Past papers of Agricultural Economics Mcqs ( Agriculture ) Mcqs. Past papers of Agricultural Economics Mcqs ( Agriculture ) Mcqs . Mcqs are the necessary part of any competitive / job related exams. The Mcqs having specific numbers in any written test. It is therefore everyone have to learn / remember the related Agricultural Economics Mcqs ( Agriculture ) Mcqs. The Important series of Agricultural Economics Mcqs ( Agriculture ) Mcqs are given below:

“Economics is the study of causes of material welfare” was defined by___________________?

A. Robins
B. Marshall
C. Adam Smith
D. Marks

Total money income received by the individual or recipients of income is called____________________?

A. Gross income
B. Personal income
C. Net income
D. None of above

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 ?

A. NNp

Power of a good/ service to satisfy human desire/want is called____________________?

A. Utility
B. The point of satiety
C. Worth
D. All of these

The sale of products below sale of production in a foreign country or below the prices charged at home is called ?

A. Dumping
B. Inflation
C. Subsidy
D. Monopoly

An increase either in real output (GDP) or in real output per capita is called___________________?

A. Growth rate
B. Economic growth
C. Economic development
D. Economic efficiency

Reproduction in the average total cost of producing a products as the firm expands the size of plants (its output) in the long run________________?

A. Economics of mass production
B. Economics of scale
C. Both of these
D. None of these

A condition when there is excessive produce in the market which lowers down the price is called__________________?

A. Market glut
B. Imperfect market
C. Perfect market
D. All of these

Changes in govt. spending and tax collection designed to achieve a full employment and non-inflationary domestic out put is called___________________?

A. Fiscal policy
B. Economizing problem
C. Economic planning
D. None

The transfer of savings from developing countries to industrially advanced countries to avoid govt. expropriation, taxation and high rates of inflation is_________________?

A. capital flight
B. capital deficit
C. capital account
D. All of these

A legally determined price above the equilibrium price is__________________?

A. Floor price
B. Equilibrium price
C. Ceiling price
D. None

The branch of economics which analyze govt. revenues and expenditures is__________________?

A. Public good
B. Public finance
C. Public revenue
D. None

Nominal income adjusted for inflation__________________?

A. Real income
B. Total income
C. Net income
D. None

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

A. Tariff
B. Net profit
C. Foreign exchange

The body of knowledge and techniques which can be used to produce goods and service from economic resources is________________?

A. Technology
B. Advanced knowledge
C. Both of the above
D. None of the above

The amount by which a nation’s import of goods (or goods and services) exceeds its export of goods or goods and services is________________?

A. Trade bloc
B. Trade deficit
C. Trade surplus
D. None

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

A. Traditional economy
B. capitalistic economy
C. Mixed economy
D. Command economy

Failure to use all available economic resources to produce goods and services is called__________________?

A. Unemployment
B. Inflation
C. Underemployment
D. Deflation

The price paid for the use of services of labour per unit of time is called__________________?

A. Income
B. Salary
C. Wage
D. All

A market in which products households sell and firms buy resources or the services of resources is__________________?

A. Resource market
B. Consumer market
C. Product market
D. Producer market

A measure of average output or real output per unit of input is called____________________?

A. Production
B. Efficiency
C. Productivity
D. None

The households and the business firms of the economy are called__________________?

A. Govt sector
B. Ptivate sector
C. Public sector
D. None

The process of deriving principles is called___________________?

A. Economics analysis
B. theoretical economics
C. Both A. and B.
D. None of these

An analytic approach in which we move from general to particular from theory to facts is_________________?

A. Specification
B. Deduction
C. Induction
D. None

“Wealth of nations” was written by_________________?

A. Rostow
B. Lewis
C. Keynes
D. Adam Smith

All goods and services produced in a country in one year are called its__________________?

D. None of these

Using part of income/saving for more income is called_________________?

A. Investment
B. Consumption
C. Busyness
D. Entrepreneurship

Total consumption deducted from total income is called__________________?

A. Gross income
B. Net income
C. Saving
D. None of these

An economic system in which property resources are publicly owned and govt uses central economic planning to direct & coordinate economic activities ?

A. Command economy
B. Open economy
C. Closed economy
D. None

The total revenue of a film less all its economic costs is called_____________________?

A. Pure Profit
B. Economy Profit
C. Above normal Profit
D. All these

To charge different prices for the goods of the same standard is called___________________?

A. Prices discrimination
B. Oligopoly
C. Prices differentiation
D. Prices elasticity

The monetary payment a firm must make to an outsider to obtain a resource____________________?

A. Net cost
B. Explicit cost
C. Implicit cost
D. Total cost

An organization which employs resources to produce a good or service for profit and own and operates one or more plants is called_______________?

A. Factory
B. Company
C. Firm
D. None

A market in which money of one nation can be used to purchase the money of other nation is called____________________?

A. International market
B. Money market
C. Foreign exchange market
D. All of these

Legally established maximum price of a good or service__________________?

A. Ceiling price
B. Max price
C. Floor price
D. None

A physical establishment which performs one or more functions in production, fabrication and distribution of goods and services ?

A. Plant
B. Factory
C. Firm
D. None

An economic system in which property resources are privately owned and markets and prices are used to direct and coordinate economic activities________________?

A. Pure capitalism
B. Closed economy
C. Command Economy
D. Open economy

An involuntary payment of money to govt. by a household or firm for which the household or firm receives no good or services directly in return ?

A. Tacit collusion
B. Tax
C. Tariff
D. Subsidy

The export of goods (or goods and services) of a nation less its imports of goods (or goods and services)__________________?

A. Trade deficit
B. Trade Balance
C. Trade surplus
D. None

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______________?

A. Tariff
B. Tax
C. Transfer payment
D. Subsidy

The percentage of labour force unemployment at any time__________________?

A. Unemployment rate
B. Deflation rate
C. Inflation rate
D. None

The value of a product sold by a firm less the value of the products purchased and used by the firm to produce the product____________________?

A. Value added
B. Vertical range
C. Value of money
D. None

An institution or mechanism which brings together buyers and sellers is called____________________?

A. Market
B. Product Market
C. Resource Market
D. None

A market in which products are sold by firms and bought by households is_________________?

A. Consumer market
B. Product market
C. Resource market
D. None

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

A. Floor Price
B. Ceiling Price
C. Supprot Price
D. All

A compensation device through which workers receive part of their pay in the form of share of their employer’s profit___________________?

A. Labour saving scheme
B. Labour laws
C. Profit sharing plan
D. Profit maximizing plan

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

A. Induction
B. Generalization
C. Deduction
D. Randomization

Meaningful statement about the economic behavior or the economy is called_______________________?

A. Economic theories
B. Economic principle
C. Both
D. None

A film on economics in which economists study and observe the details of an economic unit or a very small judgment of economy is__________________?

A. Positive economic
B. Micro economic
C. Macroeconomic
D. Normative economic

In ___________________ we avoid value judgments and focus on facts?

A. Positive economics
B. Theoretical economics
C. Normative economics
D. factual economics

Production possibility curve is always concave because ?

A. Resources are scarce
B. The marginal benefit decreases as more of a good is consumed
C. In reflects the law of increasing opportunity cost
D. The curve gets steeper as we move downward

Amount of other products which must be foregone or sacrificed to obtain 1 unit of a specific good is called its______________?

A. Opportunity cost
B. Economic cost
C. Real cost
D. None

In________________ economics we look at desirability of certain aspects of the economy ?

A. Positive
B. Theoretical
C. Normative
D. None

All points on the production possibility curve explain__________________?

A. Less than full use of resources
B. Productive efficiency
C. Allocative efficiency
D. Unattainable levels of output

The activity of buying or selling with the motive of later reselling or re buying for profit is called ?

A. Specializing
B. Speculation
C. Spillover
D. All

The amount by which a nation’s export of goods (or goods and services) exceeds its import of goods or goods and services is_______________?

A. Trade surplus
B. Trade off
C. Trade deficit
D. None

Opportunity cost is illustrated by the___________________?

A. Positive slope
B. Downward slope
C. Steep slope
D. None

Directing domestic resources to output which a nation is highly efficient at producing is called____________________?

A. Speculation
B. International Trade
C. International specialization
D. None

Any point inside the production possibility curve represents ?

A. Failure to achieve productive efficiency
B. Unemployment
C. Both A. and B.
D. None of these

A particular set of institutional arrangement and a coordinating mechanism is___________________?

A. Economic system
B. Mixed system
C. Fascism
D. None

The private ownership of resources and use of a system of market and prices to coordinate and direct economic activity________________?

A. Iaissez faire capital
B. Pure capitalism
C. Both
D. None

Hitler introduced ?

A. Traditional economy
B. Command economy
C. Mixed economy
D. Authoritarian economy

__________________provides an overview of the operation of the capitalist system ?

A. Income budget line
B. Indifference curve
C. Circular flow model
D. Says law

determinants of demand are some times referred as__________________________?

A. Demand determinants
B. Demand effectors
C. Demand shifters
D. none

A good used together with another good is___________________?

A. Normal good
B. Superior good
C. Complementary good
D. None

Productive efficiency means___________________?

A. Producing all output combinations in the least costly way
B. Producing the desired ones only
C. Producing the specific output mix most desired by society
D. None

An individuals demand curve is down sloping because_____________________?

A. Price and quantity demanded are inversely related
B. There is no relation bet P & D
C. P & D are directly related
D. None

Commodities whose demand varies directly with money income are called______________________?

A. Superior or normal goods
B. Substitutes
C. Complementary goods
D. None

Allocative efficiency is__________________?

A. Producing all output combinations in least costly way
B. Producing the desired things
C. Producing the specific output mix most desired by society
D. None

Upward shift of the demand curve is due to_________________?

A. Decrease in quantity demanded
B. Increase in demand
C. Changing in quantity demanded
D. None

price for one and demand for other move in same direction we say them___________________?

A. Substitutes
B. Complementary
C. Supplementary
D. None

Change in quantity demanded is______________________?

A. Shift of the demand curve to left side
B. Upward movement or shift of entire cure.
C. Movement from one point to the other on the same demand curve
D. None

A supply curve shifts because of change in_____________________?

A. The price of the related products
B. Technology
C. Both of the above
D. None of the above

The ability of Market forces to synchronize selling and buying decision to eliminate potential surpluses and shortages is known as_________________?

A. Specification
B. Generalization
C. Rationing function of the price
D. None

The total amount by the federal govt. of the owner of the govt. securities is called___________________?

A. Public debt
B. Public good
C. Public finance
D. None

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

A. Public sector
B. Public utility
C. Private sector
D. None

A tax levied on the cost of a board group of products______________________?

A. Consumer charge
B. Sales tax
C. Income tax
D. None

A benefit or cost from production or consumption accruing without compensation to non buyers and non/sellers of the product is called_________________?

A. Specialization
B. Speculation
C. Spill over
D. anti dumping

A commercial bank authorized by state govt. to engage in business of banking ?

A. Business authorized bank
B. State Bank
C. National Bank
D. None

An asset set aside for future use is termed as_______________________?

A. Speculation
B. Store of value
C. Future planning
D. None

Up To Date Agricultural Economics Mcqs ( Agriculture ) MCQs – Updated Agriculture MCQs