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Agriculture Economics daily one liner questions 17/05/2018

Questions & Answers

 For All Agricultural Exams
JRF, SRF, ARS/NET, SAU, PhD, IFFCO, NFL and other competitive exam

Questions Answers
1The profit earned by a Monopoly firm is called as?Innovation profit
2Production in traditional agriculture does not respond to ?
Price changes
3Ratio between nominal GNP and real GNP is called ?GNP Deflator
4The distinction between fixed and variable costs exists only in ?Short run
5Indian Army is an example of ?National wealth
6When the demand for the product is less elastic inelastic the consumers surplus is ?High
7In the marginal utility schedule initial utility become ?First unit
8When total product is increasing marginal product will be ?Positive
9The more we have a think the desire for additional units will be ? less
10The demand for milk sugar and tea is a case of ?
Joint demand
11The increase in quantity supplied for a commodity due to rice in price of the commodity it is called ?Extension of supply
12The supply of land is perfectly ?Limited
13When a great  change in price of a commodity leads to no change in  quantity supplied it is called ?Perfectly inelastic supply
14The various quantities of goods purchased by the consumer at various levels of income is referred to as ?Income demand
15The excess of income over consumption is called ?Saving

16Capital is an instrument of production I.e.
Man made
17The line indicating all possible combinations of two communities purchased with a given outlay of funds is called ?Price line
18The level of indifference curve from the origin depends upon the level of ?Satisfaction
19Quantity demand of a good which will be changed with reference to change in price of related goods are ?Cross demand
20The point of maximum satisfaction in consuming two communities is when the slope of indifference curve is tangent to the slope of ?Price line
21The term value in Economics used in the sense of value in ?Exchange
22Quasi rent arises in ?Capital
23The more we have of a commodity the less we want to have more of it is explained by ?Law of diminishing marginal utility
24Under perfect competition market products sold our ?Homogenous
25The demand for a commodity that can be put to  several uses is ?Composite demand
26The demand for various kinds of labour and materials to make the final product is called ?Derived demand
27When several goods are demanded together for a common purpose it is called ?Joint demand
28Economics is the wealth of nation definition is given by ?
Adam Smith
29The services of doctor for his patient are the example of ?Non material goods
30Elasticity cannot be explained by ?Correlation

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