Agricultural Economics One Liner Questions 91

Agricultural Economics

Questions & Answers

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

Agricultural Economics

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

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