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AGRICULTURE DEPARTMENT PPSC Jobs MCQs with Answers
1. ______ an application of the accounting principles to the business of farming:
A. Farm planning
B. Farm budgeting
C. Farm accounting
D. Marketing
Answer: C
4. "Rent is the price paid for the use of land" who said it?
A. Ricardo
B. Carber
C. Keynes
D. None of above
Answer: A
5. "Under free and prefect competition there could not be any involuntary unemployment amongst wage earners in the
labour market". This theory was established by:
A. Prof. J.
B. Say
B. Prof. Pigou
C. Prof. Keynes
D. None of above
Answer: B
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B. Negative marginal product = Stge III of classical production function
C. Negative elasticity of production = Stage III of classical production function
D. Average product decreases but is greater than marginal product = Stage II of classical production function
Answer: B
10. A farmer having less than one hectare of irrigated the land, is known as:
A. Small farmers
B. Marginal farmers
C. Big farmers
D. None of the above
Answer: B
11. A farmer, which has land holding between 1 to 2 hectare known as:
A. Marginal farmer
B. Small farmer
C. Optimal farmer
D. None of the above
Answer: B
12. A farmer which has land holding between zero to one hectare is known as:
A. Small farmers
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B. Big farmer
C. Marginal farmer
D. Argicultural labour
Answer: C
14. A holding which allow to a man a chance of producing sufficient to support himself and his family in reasonable
comfort after paying his necessary expenses is called:
A. Basic holding
B. Optimum holding
C. Operational holding
D. Economic holding
Answer: D
15. A holding which keeps in mind of the ceiling to the size, the marginal capacity and financial resources of an average
cultivator, refers to the size not more than three times of the size of economic holding is called:
A. Optimum holding
B. Marginal holding
C. Profitable holding
D. None of the above
Answer: A
16. A market in which the purchase and sale is a commodity takes place at time 't' but the exchange of the commodity
takes after t + 1 time, the market is known as:
A. Spot
B. Cash market
C. Forward market
D. General market
Answer: C
17. A market structure with large number of firms selling homogeneous product is known as:
A. Monopoly market
B. Monopolistic competition
C. Perfect competition
D. None of these
Answer: B
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18. A normative farm plan is one which the farmer:
A. Has already put into operation on his farm
B. Should adopt during the current 5 year plan period
C. Had actually adopted in the earlier 5 year plan periods
D. Should not adopt
Answer: D
19. A single convenient unit in production for which technical co-efficient are calculated is known as:
A. Units of accounting
B. Technical units
C. Marginal units
D. None of the above
Answer: B
20. A statement, which shows the financial condition and stability of the business at a particular point of time, is known
as:
A. Net worth statement
B. Business statement
C. Physical efficiency measures
D. None of the above
Answer: A11. A farmer, which has land holding between 1 to 2 hectare known as:
A. Marginal farmer
B. Small farmer
C. Optimal farmer
D. None of the above
Answer: B
12. A farmer which has land holding between zero to one hectare is known as:
A. Small farmers
B. Big farmer
C. Marginal farmer
D. Argicultural labour
Answer: C
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14. A holding which allow to a man a chance of producing sufficient to support himself and his family in reasonable
comfort after paying his necessary expenses is called:
A. Basic holding
B. Optimum holding
C. Operational holding
D. Economic holding
Answer: D
15. A holding which keeps in mind of the ceiling to the size, the marginal capacity and financial resources of an average
cultivator, refers to the size not more than three times of the size of economic holding is called:
A. Optimum holding
B. Marginal holding
C. Profitable holding
D. None of the above
Answer: A
16. A market in which the purchase and sale is a commodity takes place at time 't' but the exchange of the commodity
takes after t + 1 time, the market is known as:
A. Spot
B. Cash market
C. Forward market
D. General market
Answer: C
17. A market structure with large number of firms selling homogeneous product is known as:
A. Monopoly market
B. Monopolistic competition
C. Perfect competition
D. None of these
Answer: B
19. A single convenient unit in production for which technical co-efficient are calculated is known as:
A. Units of accounting
B. Technical units
C. Marginal units
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D. None of the above
Answer: B
20. A statement, which shows the financial condition and stability of the business at a particular point of time, is known
as:
A. Net worth statement
B. Business statement
C. Physical efficiency measures
D. None of the above
Answer: A21. A table is a :
A. Material good
B. Non-material good
C. Free good
D. None of the above
Answer: A
26. Absence integration between resources and activities in the process of production is called:
A. Linearity
B. Non-linearity
C. Quasi-non-linearity
D. Quasi-linearity
Answer: B
27. According to Hung Chao Tai land reforms aim at attaining just relationship among ______ population:
A. Urban
B. Industrial
C. Traders
D. Agricultural
Answer: D
29. Who said; that "all those phenomenon which can be brought directly or indirectly into relation with measuring rod
of money fall under the subject matter of economics?
A. Marshal
B. Pigou
C. Chapman
D. Keynes
Answer: A
30. Who has defined Agriculture economics as the branch of economics dealing with the production and distribution of
agricultural commodities and the institutions associated with agriculture?
A. Philip Taylor
B. L.C.Gay
C. E.O.Heady
D. Marshall
Answer: B
31. Who defined consumption as the use of economic goods and personal services in the satisfaction of human wants?
A. Ely
B. Keynes
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C. Pigou
D. Marshall
Answer: D
32. Which statement is used for classical economist to theory of income and employment?
A. They thought that supply creates its own demand
B. Economy produce, output and income corresponding to the level of full employment
C. Their theory was based on assumptions and full employment
D. Theory was not based on assumption and full employment
Answer: D
34. As income increase the expenditure on light fuel and rent generally:
A. Increases
B. Decreases
C. Remains the same
D. None of the above
Answer: C
35. As the price of a commodity goes up, the demand for it:
A. Contracts
B. Increases
C. Expands
D. Decreases
Answer: A
36. The spurt to Zero Marginal Productivity type of exercise was given by _____ in 1954:
A. W. Arthur Lewis
B. W. David Hopper
C. W. Nelson Michael
D. W. Benzene Shoemaker
Answer: A
38. Which one of the following relationship will provide least cost combination of input use?
A. rX1/rx2 = Px2/Px1
B. rX1/rx2 > Px2/Px1
C. rX1/rx2 < Px2/Px1
D. rX1/rx2 = Px1/Px2
Answer: D
42. Who was the first economist to have evolved the technique of indifference curve analysis?
A. David Ricardo
B. Bohm Bawerk
C. F.Y. Edgeworth
D. A.C. Pigou
Answer: C
48. Which one of the following principles is employed in production when resources are scarce?
A. Added cost is equal to added returns
B. Equal-marginal principle
C. Competitive advantage
D. None of these
Answer: B
53. Co-operative farming, Collective farming, Capitalistic farming, State farming and Peasant farming are:
A. Types of farming
B. System of farming
C. Both these
D. None of these
Answer: B
58. Cropping intensity and gestation period of the crops grown is:
A. Inversely related
B. Directly related
C. Exponentially related
D. Not interrelated
Answer: D
59. Dairy farming, poultry farming, crop farming and pig farming are:
A. Types of farming
B. System of farming
C. Both (a) and (b)
D. None of these
Answer: A
60. Decisions are continuously made in the day to day operations of farm business and involve small investment are
known as:
A. Strategic decisions
B. Marketing decisions
C. Operational decisions
D. None of the above
Answer: C
61. Decisions on construction of buildings are comes under:
A. Operational decisions
B. Administrative decisions
C. Strategic decisions
D. Selling decisions
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Answer: C
62. Decisions regarding irrigation, conservation and reclamation programmes are comes under:
A. Buying decisions
B. Selling decisions
C. Marketing decisions
D. Strategic decisions
Answer: D
68. Which one of the following is not a physical factor affecting the type of farming?
A. Climate
B. Topography
C. Soil
D. Labour supply
Answer: A
70. Economics is a:
A. Social science
B. Political science
C. Natural science
D. None of these
Answer: A
71. Economics is a/an:
A. Art
B. Science
C. Art and science
D. None of these
Answer: C
78. Which one of the following formulae gives the correct measure of 'Rate of Capital turnover'?
A. (Gross income/Total farm assets) x 100
B. (Net income / Total farm assets) x 100
C. (Farm business income / Total farm assets) x 100
D. (Capital investment / Total farm assets) x 100
Answer: A
79. Fasts and findings of other science are coordinated for the solution of various problems of individual farmers with
view to achieving certain desired goals, hence, farm management is:
A. Micro Approach Science
B. Practical Science
C. Integrating Science
D. Broader Field
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Answer: C
83. Farm management concern with obtaining the maximum yield per hectare and considers per unit cost therefore it is:
A. Practical Science
B. Integrating Science
C. Profitability Oriented
D. Broader Field
Answer: C
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86. Farm management treats every farm unit unique in available resources, problems and potentialities because it has:
A. Broader Field
B. Micro Approach
C. Practical
D. None of these
Answer: B
90. Which one of the following economic principles helps a farmer to allocate his limited resources to two different
enterprises?
A. The law of variable proportions
B. The law of comparative advantage
C. The law of equimarginal returns
D. The principles of fixed and variable costs
Answer: C91. Which one of following statement is correct?
A. Labour is inseparable from te labourer
B. The labour does not sells his services
C. Labour is not perishable than any other commodity
D. More mobile than capital and other goods
Answer: A
92. For purchasing of seeds, fertilizers, etc., the loan distributed is called:
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A. Short term loan
B. Long term loan
C. Medium term loan
D. All of the above
Answer: A
93. Which of the following system as followed for collecting land revenue during British period?
A. Zamindari system
B. Royattwari system
C. Mahalwari system
D. All the systems
Answer: D
95. Given that: Y = 30 X10.25 X20.60 Where Y = output, X1 = Input factor 1, and X2 = input factor 2, the nature of return
to scale will be:
A. Constant
B. Increasing
C. Decreasing
D. Fluctuating
Answer: B
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98. Gross return plus charge in inventory minus total cost is equal to:
A. Farm income
B. Family income
C. Tax
D. None of the above
Answer: A
100. How many plots of one-hectare area can be farmed from one square km area?
A. 10
B. 50
C. 100
D. 1000
Answer: C
101. How much farmers have land holding more than 10 hectares?
A. 15%
B. 9%
C. 15%
D. 4%
Answer: D
102. How much percent of total cost of production goes to labour investment?
A. 25-30%
B. 46-50%
C. 40-45%
D. 15-20%
Answer: A
106. If a per cent change in the price of a commodity is followed by a 10 percent change in the quanity demanded, the
elasticity of demand of that commondity is:
A. 0.2
B. 1
C. 0.5
D. 5
Answer: A
107. If by increasing the quantity of labour used by one unit the firm can substitute up to units of capital and still
produce the same output, then the marginal rate of technical substitution of labour for capital is:
A. 1?2
B. 2
C. 1
D. 0
Answer: B
109. If more and more capital and labour are applied to a fixed piece of land, the system of cultivation or farming is
known as:
A. Intensive cultivation
B. Extensive cultivation
C. Co-operative farming
D. Large scale farming
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Answer: A
112. If substitution ration is less than price ratio than cost will be:
A. Increasing
B. Maximum
C. Decreasing
D. None of the above
Answer: B
113. If technical progress leads to a rise in labour productivity of 5%, then an increase of 5% in the wage rate would
imply that:
A. Workers will derive all of the benefits
B. There will be cost-push will remain unchanged
C. Unit labour costs will remain unchanged
D. Profit per unit will invariably fall
Answer: C
114. If the income elasticity of demand is greater than one, the commodity is:
A. A necessity
B. A luxury
C. An inferior good
D. A essentiality
Answer: B
115. If the members have not any right on land and connot take decisions regarding farming but guided by a general
body and profit is given according to the labour and capital invested by the member is known as:
A. Co-operative joint farming
B. Co-operative collective farming
C. Co-operative better farming
D. Co-operative tenant farming
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Answer: B
117. If the production function is homogenous of degree one then the scale elasticity of output will be:
A. Equal of unity
B. Less than unity
C. Greater than unity
D. Equal to zero
Answer: D
118. If the quanitity of a commodity demanded does not change when its price, the demand curve is:
A. Negatively sloped
B. Positively sloped
C. Vertically sloped
D. None of these
Answer: C
119. If the quantity of commodity demand remains unchanged as its price changes, the coefficient of price elasticity of
demand is:
A. Greater than one
B. Zero
C. Smaller than one
D. Equal to one
Answer: D
120. If the small holders form a society for farming and get profit after deducting the expenses of his price of land and
farmer also have right on his land the system is known as:
A. Co-operative better farming
B. Co-operative collective farming
C. Co-operative joint farming
D. None of these
Answer: C121. If two items are complementary then demand of one item will increase for ______ in price of another
item:
A. Increase
B. Decreases
C. No effect
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D. Not known
Answer: A
122. If two items are supplementary than demand of item will decrease against the ______ in price of another item:
A. Increase
B. Maximum
C. Decrease
D. Minimum
Answer: A
125. In a market situation when there is only one seller of a commodity, it is:
A. Duopoly Market
B. Oligopoly Market
C. Monopoly Market
D. None of the above
Answer: C
132. In mixed farming the contribution of livestock to gross farm income is:
A. At least 10%
B. At least 30%
C. At least 40%
D. More than 50%
Answer: A
137. In the short run, Average Cost, Average Variable Cost and Marginal Cost Curves are 'U' shaped due to the operation
of:
A. Low of equimarginal returns
B. Substitution between two factor inputs
C. Law of variable proportion
D. Time comparison principle
Answer: A
140. In which planning period profit rule says that gross return should cover variable cost:
A. Long run
B. Short run
C. Both (a) and (b)
D. None of the above
Answer: B
141. In which planning period we can change the output by altering the size of form:
A. Long run
B. Short run
C. Both (a) and (b)
D. None of the above
Answer: A
142. In which planning period we can change the output without altering the size of the plant:
A. Long run
B. Short run
C. Accounting period
D. Base year period
Answer: B
143. In which relationship increase or decrease in the production of one product affects the production of the other
commodity inversely:
A. Joint product
B. Supplementary
C. Complementary
D. Competitive
Answer: D
145. In which system of sale commission agents takes the sample of the produce to the shops of buyers?
A. Quotations on samples
B. Open auction system
C. Private negotiation
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D. None of the above
Answer: A
147. Which of the following is not a type of farming on the basis of land use and cultural practices classification?
A. Tenant farming
B. Specialized farming
C. Diversified farming
D. Mixed farming
Answer: A
148. Which of the following is not a farming system on the basis of ownership and management classification?
A. Tenant farming
B. Co-operative farming
C. Mixed farming
D. State farming
Answer: C
152. Individuals do not have physical control of the product but they render personal service are known as:
A. Speculated middle man
B. Commission agents
C. Brokers
D. Whole sellers
Answer: C
153. Individuals, which specialize in performing the various marketing functions and rendering their services, are known
as:
A. Producers
B. Consumers
C. Middle man
D. None of the above
Answer: C
154. Individuals who buy goods from whole sellers and sell them to the consumers in small quantities are known as:
A. Whole seller
B. Retailer
C. Consumer
D. Producer
Answer: B
156. Keeping few birds, some fruit trees and a small garden on farm are the:
A. Complementary enterprise
B. Competitive enterprise
C. Supplementary enterprise
D. None of these
Answer: B
158. Land holding of either 10 or more hectares have been classified as:
A. Semi-medium
B. Medium
C. Semi-large
D. Large
Answer: D
159. Land reforms have been equated with total ______ development:
A. Urban
B. Agrarian
C. Industrial
D. Education
Answer: B
160. Level of output of a particular commodity depends upon the quantities of inputs used for its production. This
relationship is known as:
A. Production process
B. Product mix
C. Production function
D. Cost function
Answer: C
161. The return from best alternate use of that input forgone by putting it to the present use is known as:
A. Average cost
B. Total cost
C. Marginal cost
D. Opportunity cost
Answer: D
162. The route through which agricultural products move from producers to consumers is known as:
A. Marketing information
B. Marketing channels
C. Marketing efficiency
D. Marketing institutions
Answer: B
165. Which of the following is an economic factor, affects the type or system of farming?
A. Availability of capital
B. Water
C. Land
D. All of the above
Answer: A
167. Management decisions, which involve lasting effects, are known as:
A. Operational decisions
B. Strtegic decisions
C. Marketing problem decisions
D. Administrative decisions
Answer: B
173. Marginal utility of a commodity is the utility derived from the purchase of:
A. The first unit
B. All the units
C. Any extra unit
D. The last but one unit
Answer: C
179. Which of the following contributes more national income and stand next to agriculture?
A. Mining and manufactures
B. Animal husbandry
C. Transportation
D. Forestry
Answer: A
183. When we study a problem from particular to general, the method is known as?
A. Deductive method
B. Inductive method
C. Both (a) and (b)
D. None of the above
Answer: B
184. Name the market in which permanent or durables commodities are traded:
A. Long period market
B. Short period market
C. Secular market
D. Bullion market
Answer: C
187. When variable cost is zero, the total cost will be?
A. Equal to variable cost
B. Equal to fixed cost
C. Equal to average variable cost
D. None of the above
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Answer: B
196. Persons who expects that prices will go down in future are:
A. Bulls
B. Bears
C. Retailers
D. Whole sellers
Answer: B
197. Persons who expect that price will go up in future are known as:
A. Bulls
B. Bears
C. Whole sellers
D. Dalal
Answer: A
198. Prices are settled by pressing the fingers under cover of a piece of cloth is:
A. Private negotiation
B. Under cover of a cloth
C. Sale by sample
D. Moghum sale
Answer: B
199. Primary wholesale market, secondary wholesale market and terminal market are the kind of:
A. Wholesale market
B. Co-operative market
C. Both (a) and (b)
D. None of the above
Answer: A
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200. Profits are defined as P (pie) = R - (TFC + TVC), where TFC = total fixed cost and TVC = total variable cost and:
A. R = Revenue
B. R = Reduction
C. R = Regression
D. R = Co-efficient
Answer: A
201. Quantitated instrument of monetary policy includes:
A. Bank rate
B. Legal reserve requirements
C. Open market operations
D. All of the above
Answer: D
202. The purchase or sale of a commodity at the present price with the object of sale or purchase at some future date at
a favourable price is known as:
A. Hedging
B. Speculation
C. Market intelligence
D. None of the above
Answer: B
203. The reform of tenancy laid down that the rent should not exceed _____ percent of gross produce:
A. 20-25
B. 10?15
C. 25?30
D. 35-40
Answer: A
204. The relationship between cost function and production function is:
A. Positive
B. Negative
C. Increase
D. None of these
Answer: B
205. The resources, if their services are not used, these cannot be stocked are known as:
A. Stock resources
B. Flow resources
C. Fixed resources
D. All of the above
Answer: B
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206. Regulated markets are those in which:
A. Business is conducted without any set rules and regulations
B. Business is conducted with the rules and regulations framed by statutory market
C. Bonds, shares and securities are bought and sold
D. None of the above
Answer: B
209. When total cost is divided by total units of the production, we get?
A. Marginal cost
B. Average cost
C. Fixed cost
D. Variable cost
Answer: B
212. When quantity demanded of a commodity decreases with the increase in its price, it is called?
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A. Decrease in demand
B. Extension of demand
C. Contrction of demand
D. Increase in supply
Answer: A
217. Some middleman do not buy and sell directly but assist in the marketing process, they are known as:
A. Speculated middle men
B. Commission agents
C. Facilittive middle man
D. Brokers
Answer: C
219. When land is owned by government and workers work as employees getting their wages regularity, it is called?
A. Peasant farming
B. Collective farming
C. Capitalistic farming
D. State farming
Answer: D
223. Success of a farm plan depends to a great extent, on the accuracy of basic date regarding:
A. Estimates of production from crops animals
B. Right production of crops and livestock in relation to fodder and feed requirement
C. Availability of capital for investment in a particular enterprise
D. All of these
Answer: D
224. Sufficient condition of farm efficiency is generally referred to as choice indicator becaue it:
A. Is a valid criterion of the assumption of certainty
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B. Is consistent with the choices made under perfect competition
C. Is consistent with the welfare increase to the farming population
D. Helps to make allocation compatible with the given objectives
Answer: D
227. When frmers pool their land, labour and capital and work jointly under the direction of an elected managing
committee and divide the profit among themselves in probortion of land contributed and wages earned by each one of
them it is called?
A. Co-operative farming
B. Collective farming
C. Capitalist farming
D. Peasant farming
Answer: A
228. What is the basic consideration for advancing crop loan by commercial banks?
A. To access the repayment capacity of the farmers
B. To advance loans at cheaper rates
C. Cost of production per unit of area
D. To advance loans to weaker sections
Answer: C
229. Wealth is a:
A. Fund
B. Flow resources
C. Income
D. Capital
Answer: A
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230. We get maximum satisfaction when:
A. Marginal utility is the same
B. Total utility is the same
C. Average utility is decreases
D. Total utility is decreases
Answer: D
232. The amount added to total cost for producing additional unit of output is known as:
A. Marginal cost
B. Average cost
C. Total cost
D. None of them
Answer: A
234. Uniform interest rate policy is not justified from the viewpoint of economic soundness because it does not take into
account:
A. Size of loan
B. Risk
C. Distance
D. All above
Answer: A
235. The assets that are difficult to convert into cash to meet any current obligations are:
A. Working assets
B. Current assets
C. Fixed assets
D. None of the above
Answer: C
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236. The author of the "wealth of nations" was:
A. Marshall
B. Ricardo
C. Robbins
D. Adam Smith
Answer: D
237. Under the crop loan system, the farmer is given loan in the form of:
A. Cash
B. Kind
C. Partly case and partly kind
D. None of these
Answer: C
242. The cost incurred by a firm in purchasing any factor of production is referred to as:
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A. Explicit cost
B. Implicit cost
C. Variable cost
D. None of these
Answer: B
243. The cost of various operations from land preparation to threshing of the crop is known as:
A. Cost of cultivation
B. Cost of farming
C. Both (a) and (b)
D. None of the above
Answer: A
244. The cost which are not paid to others, are called:
A. Explicit cost
B. Implicit cost
C. Both (a) and (b)
D. None of these
Answer: B
246. The decisions about land resources and farming operations, questions like what to produce, how to produce and
how to equip the farm, are known as:
A. Administration problem decisions
B. Production and organization problem decision
C. Buying decision
D. Selling decision
Answer: B
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248. The demand for wheat is:
A. Perfectly elastic
B. High inelastic
C. Very elastic
D. Less elastic
Answer: D
250. The required for a resource to be completely transformed into a product is referred to:
A. Transformation period
B. Production period
C. Both (a) and (b)
D. Planning period
Answer: C251. The individuals granted broad powers by those who purchase are known as:
A. Brokers
B. Speculated middleman
C. Commission agents
D. Whole sellers
Answer: C
256. The grain dealer stocks grain to supply it as the time of shortage and creates:
A. Place utility
B. Time utility
C. Form utility
D. Ownership utility
Answer: B
259. The large number of combination of two inputs which have some cost is known as:
A. Iso product
B. Iso cost
C. Iso revenue
D. Indifference curve
Answer: B
261. The law, which is very useful in determining the best use of limited resources, is:
A. Law of opportunity cost
B. Law of diminishing return
C. Law of substitution
D. None of the above
Answer: A
262. The main cause of inflation is in money supply and decrease in production:
A. Decrease
B. Increase
C. Remains same
D. None of them
Answer: B
264. The main objective of land reform measures undertaken after independence was removal of institutional and
_____ obstacles:
A. Emotional
B. Motivational
C. Conventional
D. National
Answer: B
265. The meanings of the word 'Economics' is most closely associated with the word:
A. Scarce
B. Free
C. Unlimited
D. Expenditure
Answer: A
266. Which of the following definitions of economics includes the economic concept of 'Scales of Preferences'?
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A. Wealth' Definition
B. Welfare' Definition
C. Scarcity' Definition
D. Isolation' Definition
Answer: C
268. The Money paid for the use of money borrowed is nothing but:
A. Profit
B. Rent
C. Premium
D. Interest
Answer: D
269. The more we have of a thing, the desire for addditional units of it will be:
A. Less
B. More
C. Remain same
D. None of the above
Answer: A
276. The term "land reform" should be used in broadest sense to serve as ______ for action:
A. Inscription
B. Prescrription
C. Description
D. Formulation
Answer: B
277. The term "Agricultural Economics" is used in preference to the term "Rural Economics" for the following reason:
A. Agricultural economics is more widely understood than the rutal economics
B. Agricultural economics is far more popular term than the rural economics
C. Both (a) and (b)
D. None of the above
Answer: C
280. The technique which protect the traders from extreme falls in price is known as:
A. Speculation
B. Future trading
C. Hedging
D. For sale
Answer: C
281. The statement in the process of production and distribution of goods, income is generated and distributed amongst
the factors of production was given by:
A. J.
B. Say
B. Classical economist
C. Keynes
D. Marshal
Answer: A
282. The physical property of a business along with their values at a specific date is enlisted in:
A. Farm book-keeping
B. Farm planning
C. Farm inventory
D. Farm management
Answer: C
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284. Who was the first economist to have propounded the theory of rent?
A. Joan Robinson
B. R.G.
D. Allen
C. Edward Chamberlain
D. Alfred Marshall
Answer: D
285. The principle of equi-marginal return states that the profits will be the greatest if unit resources are used where:
A. Marginal returns are the highest
B. Average returns are the highest
C. Total returns are the highest
D. Net returns are the highest
Answer: A
287. The process of determination of wages, rent, interest and profit is called:
A. Consumption
B. Production
C. Distribution
D. None of the above
Answer: C
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