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Agricultural Economics - MCQ Online Exam Quiz

Important questions about Agricultural Economics - MCQ. Agricultural Economics - MCQ MCQ questions with answers. Agricultural Economics - MCQ exam questions and answers for students and interviews.

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

Options

A : Adam Smith

B : Marshall

C : Robins

D : Marks

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

Options

A : Gross income

B : Net income

C : Personal 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 ?

Options

A : GDP

B : NNp

C : NDP

D : GNP

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

Options

A : Utility

B : Worth

C : The point of satiety

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 ?

Options

A : Dumping

B : Subsidy

C : Inflation

D : Monopoly

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

Options

A : Economic development

B : Economic growth

C : Growth rate

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________________?

Options

A : Economics of scale

B : Economics of mass production

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__________________?

Options

A : Market glut

B : Perfect market

C : Imperfect 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___________________?

Options

A : Fiscal policy

B : Economic planning

C : Economizing problem

D : None

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

Options

A : capital flight

B : capital account

C : capital deficit

D : All of these

A legally determined price above the equilibrium price is__________________?

Options

A : Floor price

B : Ceiling price

C : Equilibrium price

D : None

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

Options

A : Public revenue

B : Public finance

C : Public good

D : None

Nominal income adjusted for inflation__________________?

Options

A : Real income

B : Net income

C : Total income

D : None

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

Options

A : Tariff

B : Foreign exchange

C : Net profit

D : GNP

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

Options

A : Technology

B : Advanced knowledge

C : Both

D : None

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

Options

A : Trade surplus

B : Trade deficit

C : Trade bloc

D : None

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

Options

A : Traditional economy

B : Mixed economy

C : capitalistic economy

D : Command economy

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

Options

A : Unemployment

B : Underemployment

C : Inflation

D : Deflation

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

Options

A : Salary

B : Income

C : Wage

D : All

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

Options

A : Resource market

B : Product market

C : Consumer market

D : Producer market

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