Agri Economics Question For Ao TNPSC Exam

AgRICULtURAL EcONOMICS ANS FARM MAMAGEMENT
1. ______ an application of the accounting principles to the business of farming:
A. Farm planning B. Farm budgeting
C. Farm accounting D. Marketing
Answer & Explanation
Answer: Option C
Explanation:
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2. Beef' and 'hides' are examples of:
A. Independent enterprise B. Joint enterprise
C. Supplementary enterprise D. Competitive enterprise
Answer: Option B
Explanation:
3. Which of the following is not correctly matched?
App rises continuously till APP and MPP is MPP rises continuously - Till MPP is more
A. B.
both equal. than APP
TPP rises continuously - Till MPP is not equal APP & MPP both fall but TPP rises. When MPP
C. D.
to Zero is less than APP but more than zero
Answer: Option C
Explanation:
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: Option A
Explanation:
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: Option B
Explanation:
6. Which one of the following pairs is not correctly matched?
Elasticity of production = Stage III of

Negative marginal product = Stge III of
A. classical production function greater than B.
classical production function
unity
Average product decreases but is greater

Negative elasticity of production = Stage III
C. D. than marginal product = Stage II of classical
of classical production function
production function
Answer: Option B
Explanation:
7. World Trade Organization (W.T.O.) was established in:
A. 1992 B. 1998
C. 1995 D. 1997
Answer: Option C
Explanation:

8. A consumer spends his income according to the law of:
A. Diminishing marginal utility B. Increasing cost
C. Equi-marginal utility D. Least cost
9. A crop loan over Rs. 1,00,000 will require:
A. Equitable mortagage B. Registered mortgage of land
C. Personal security D. None of these
Answer: Option B
Explanation:
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: Option B
Explanation:
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: Option B
Explanation:
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: Option C
Explanation:
13. A group of technical units are known as:
A. Farm firm B. Plant
C. Economic unit D. All above
Answer: Option B
Explanation:
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: Option D
Explanation:
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: Option A
Explanation:
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: Option C
Explanation:
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: Option B
Explanation:
18. A normative farm plan is one which the farmer:
Should adopt during the current 5 year plan

A. Has already put into operation on his farm B.
period
Had actually adopted in the earlier 5 year

C. D. Should not adopt
plan periods
Answer: Option D
Explanation:
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: Option B
Explanation:
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: Option A
Explanation:
21. A table is a :
A. Material good B. Non-material good
C. Free good D. None of the above
Answer: Option A
Explanation:
22. The other name of overhed cost is:
A. Fixed cost B. Variable cost
C. Total cost D. Marginal cost
Answer: Option A
Explanation:
23. A.P.P. Will be equal to (Y = output, X = input):
A. X/Y B. X/Y x 100
C. Y/X D. None of above
Answer: Option C
Explanation:
24. Above 15% farmers had land holding in between:
A. 2-4 ha B. 0-1 ha
C. 1-2 ha D. None of the above
Answer: Option A
Explanation:
25. Symbol used for purity of agricultural goods is:
A. ISI B. AGMARK
C. @ D. All of the above
Answer: Option B
Explanation:
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: Option B
Explanation:
27. According to Hung Chao Tai land reforms aim at attaining just relationship among ______ population:
A. Urban B. Industrial
C. Traders D. Agricultural

Answer: Option D
Explanation:
28. Iso-revenue line is a:
A. Straight line B. Curve line
C. Horizontal line D. Vertical Line
Answer: Option A
Explanation:
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: Option A
Explanation:
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: Option B
Explanation:
31. Who defined consumption as the use of economic goods and personal services in the satisfaction of human
wants?
A. Ely B. Keynes
C. Pigou D. Marshall
Answer: Option D
Explanation:
32. Which statement is used for classical economist to theory of income and employment?
Economy produce, output and income

They thought that supply creates its own
A. B. corresponding to the level of full
demand
employment
Their theory was based on assumptions and Theory was not based on assumption and
C. D.
full employment full employment
Answer: Option D
Explanation:
33. Air is:
A. Economic goods B. Free goods
C. Transferable goods D. All above
Answer: Option B
Explanation:
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: Option C
Explanation:
35. As the price of a commodity goes up, the demand for it:
A. Contracts B. Increases
C. Expands D. Decreases
Answer: Option A
Explanation:
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: Option A
Explanation:
37. At equilibrium, the slope of the Indifference curve is:
A. Equal to the slope of the budget line B. Greater than the slope of the budget line
C. Smaller than the slope of the budget line
Answer: Option A
Explanation:
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: Option D
Explanation:
39. Average fixed cost is equal to:
A. Total fixed cost / 100 B. Total fixed cost/total variable cost
C. Total fixed cost/output D. Total fixed cost/Input
Answer: Option C
Explanation:
40. Average product is equal to marginal product when:
A. Average Product is maximum B. Average Product is minimum
C. Marginal Product is zero D. None of the above
Answer: Option A
Explanation:
41. Basic fundamental law of agriculture is:
A. Law of diminishing return B. Law of equimarginal return
C. Law of substitution D. Law of demand and supply
Answer: Option A
Explanation:
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: Option C
Explanation:
43. Break-even point is determined by:
A. MC = MR B. MC = AVC
C. MC = AC = AR D. TR = TC
Answer: Option D
Explanation:
44. Building machinery and implements are examples of:
A. Variable resources B. Fixed resources
C. Flow resources D. None of the above
Answer: Option B
Explanation:
45. Buyer's market devote the place where:
A. Supply receeds the demand B. Supply exceeds the demand
C. Money value remains unchanged D. None of these
Answer: Option B
Explanation:
46. By preparing chairs the wood creates:
A. Form utility B. Time utility

C. Place utility D. Knowledge utility
Answer: Option A
Explanation:
47. Capital market deals with:
A. Cotton B. Wheat
C. Raw material D. Bonds and shares
Answer: Option D
Explanation:
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: Option B
Explanation:
49. Which one of the following pairs is correctly matched?
Common cost = Cost associated with

A. B. Average cost = A study of returns and costs
variable resource
Marginal cost = Additional cost to produce

C. D. Prime cost = Cost related to fixed resources
an additional unit of output
Answer: Option C
Explanation:
50. Which one of the following is operational decision?
A. Enterprise mix B. Selection of least cost
C. Level of resource ue D. All above
Answer: Option C
Explanation:
51. Which one of the following is not capital?
A. Goodwill of a business B. Skill of a doctor
C. Furniture in a house D. Cloth in a shop
Answer: Option C
Explanation:
52. Commodity market deals with:
A. Bonds B. Shares
C. Wheat D. None of the above
Answer: Option C
Explanation:
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: Option B
Explanation:
54. Which one of the following is not a system of farming?
A. Peasant farming B. Co-operative farming
C. Mixed farming D. Co-operative collective farming
Answer: Option C
Explanation:
55. Creation of utility by way of marketing is known as:
A. Consumption B. Production
C. Distribution D. Exchange
Answer: Option B
Explanation:
56. Criteria for goods market information is:
A. Comprehensive B. Accuracy
C. Relevance D. All above
Answer: Option D
Explanation:
57. Crop farming and milk production is an example of:
A. Competitive enterprise B. Complementary enterprise
C. Supplementary enterprise D. None of them

Answer: Option B
Explanation:
58. Cropping intensity and gestation period of the crops grown is:
A. Inversely related B. Directly related
C. Exponentially related D. Not interrelated
Answer: Option D
Explanation:
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: Option A
Explanation:
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: Option C
Explanation:
61. Decisions on construction of buildings are comes under:
A. Operational decisions B. Administrative decisions
C. Strategic decisions D. Selling decisions

Answer: Option C
Explanation:
62. Decisions regarding irrigation, conservation and reclamation programmes are comes under:
A. Buying decisions B. Selling decisions
C. Marketing decisions D. Strategic decisions
Answer: Option D
Explanation:
63. Decisions regarding selection of enterprise are known as:
A. Marketing decisions B. Buying decisions
C. Administrative decisions D. Operational decisions
Answer: Option D
Explanation:
64. Decrease in demand means:
Demand changes not due to the change in

A. Demand change due to change in price B.
price but due to income
Answer: Option B
Explanation:
65. Demand for necessary goods is:

A. Elastic B. Inelastic
C. Perfectly elastic D. None of the above
Answer: Option B
Explanation:
66. Diversified farming is a kind of:
A. System of farming B. Type of farming
C. Both of the above D. None of the above
Answer: Option B
Explanation:
67. The marginally productivity theory is based on the assumption of
A. Imperfect competition B. Monopolistic competition
C. Perfect competition D. Elastic competition
Answer: Option D
Explanation:
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: Option A
Explanation:
69. Economic laws are not ascertain as:
A. Physical laws B. Moral laws
C. Government laws D. All above
Answer: Option A
Explanation:
70. Economics is a:
A. Social science B. Political science
C. Natural science D. None of these
Answer: Option A
Explanation:
71. Economics is a/an:
A. Art B. Science
C. Art and science D. None of these
Answer: Option C
Explanation:
72. Economics is primarily a study of:
A. Man B. Wealth
C. Wants D. None of these
Answer: Option A
Explanation:
73. Economy of a developing country is marked by:
A. Predominance of agriculture B. Predominance of industry
C. Predominance of transportation D. None of them
Answer: Option A
Explanation:
74. Enterprise budgeting deals with input-output relationship of:
A. A set of different enterprises B. A single enterprises of the farm
C. Both of the above D. None of the above
Answer: Option B
Explanation:
75. Expenditure on fertilizers is called:
A. Fixed cost B. Variable cost
C. Marginal cost D. Total cost
Answer: Option B
Explanation:
76. Which one of the following is correct statement for market?
A place where commodities are bought and

A. B. Potential buyers and sellers of the product
sold
An organization, which provides facilities for

C. D. All of these
exchange of commodities

Answer: Option D
Explanation:
77. Extension is demand means:
A. Change in demand due to change in price B. Change in demand due to change in income
Answer: Option A
Explanation:
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
(Farm business income / Total farm assets) (Capital investment / Total farm assets) x
C. D.
x 100 100
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
Answer: Option C
Explanation:
80. Farm budgets are used to:
Compare economic profitability of different Indicate wheather a proposed change will be

A. B.
production activities within or among farms profitable under a given set of factors
Explore conditions under which certain farm

C. D. Do all the above
practices become profitable or unprofitable
Answer: Option D
Explanation:
81. Farm credit may be defined as lending:
A. For the development of land and labour B. For more yield
For the development of forestry, popultry,

C. For the development of agriculture D.
piggery etc
Answer: Option C
Explanation:
82. Farm management as a resource allocation proportion is related to:
A. Inter-farm management B. Intra-farm management
C. Both inter and intra farm management D. Inter-regional management
Answer: Option B
Explanation:
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: Option C
Explanation:
84. Farm management deals with:
A. Judicious decisions B. Use of scarce resources

C. Profit maximization and family satisfaction D. All of these
Answer: Option D
Explanation:
85. Farm management is a practical science because of:
It is integrating facts and findings of other

A. It is interested in profitability B.
sciences
It deals with facts of other physical sciences

C. and testing the applicability of those facts D. All of these
and findings
Answer: Option C
Explanation:
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: Option B
Explanation:
87. Farm planning involves:
Selecting and adopting best package of

A. Preparing farm budget in advance B.
practices
C. Both of these D. None of these
Answer: Option A
Explanation:
88. Who propounded the theory of optimum population first?
A. Sidgwick B. Malthus
C. Carr-Saunders D. Kuczyansky
Answer: Option A
Explanation:
89. Farming planning means:
A. Farm budgeting B. Cropping sequence
C. Types of enterprise D. None of these
Answer: Option A
Explanation:
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: Option C
Explanation:
91. Which one of following statement is correct?
A. Labour is inseparable from te labourer B. The labour does not sells his services
Labour is not perishable than any other

C. D. More mobile than capital and other goods
commodity

Answer: Option A
Explanation:
92. For purchasing of seeds, fertilizers, etc., the loan distributed is called:
A. Short term loan B. Long term loan
C. Medium term loan D. All of the above
Answer: Option A
Explanation:
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: Option D
Explanation:
94. Which of the following statement is wrong for perfect market?
There are a large numer of buyers and Buyers and sellers have imperfect nowledge
A. B.
sellers of demand and supply
Prices are uniform over a geographical area

C. Price at any time is uniform D.
at anyone time
Answer: Option B
Explanation:
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: Option B
Explanation:
96. Goodwill of a business is a:
A. Material good B. Non-material good
C. Material and non-material D. None of the above
Answer: Option B
Explanation:
97. Which of the following statement is correct?
When average cost is decreasing, it is more When average cost is decreasing, it is less
A. B.
than marginal cost than marginal cost
When average cost is increasing, it is more

C. D. None of the above
than marginal cost
Answer: Option C
Explanation:
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: Option A
Explanation:
99. Oligopoly is a market situation, which is characterized by the existence of:
A. One firm B. Two firms
C. Several firms D. Few firms
Answer: Option D
Explanation:
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: Option C
Explanation:
101. How much farmers have land holding more than 10 hectares?
A. 15% B. 9%
C. 15% D. 4%
Answer: Option D
Explanation:
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: Option A
Explanation:
103. How the field of farm management is broader?
A. It tests the applicability of facts and findings B. It is interested in profitability
It gets information from more than one

discipline
Answer: Option C
Explanation:
104. Human wants are generally:
A. Static B. Recurring
C. Non-recurring D. Limited
Answer: Option B
Explanation:
105. Monopsony implies the existence of a :
A. Single buyer B. Single seller
C. Single seller vs Single buyer D. All of the above
Answer: Option A
Explanation:
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: Option A
Explanation:
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: Option B
Explanation:
108. If change in price is 1% and charge in demand is 1% demand will be called:
A. Elastic B. Proportionate elastic
C. Inelastic D. None of the above
Answer: Option C
Explanation:
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
Answer: Option A
Explanation:

110. If more is demanded at the same price, it is a case of:
A. Extension in demand B. Contraction in demand
C. Increases in demand D. Decreases in demand
Answer: Option C
Explanation:
111. If substitution ratio is equal to price ratio than cost will be:
A. Minimum B. Increasing
C. Maximum D. Decreasing
Answer: Option A
Explanation:
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: Option B
Explanation:
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:
There will be cost-push will remain

A. Workers will derive all of the benefits B.
unchanged
C. Unit labour costs will remain unchanged D. Profit per unit will invariably fall
Answer: Option C
Explanation:
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: Option B
Explanation:
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
Answer: Option B
Explanation:
116. If the price of a commodity is decreased than the demand will:
A. Increase if other factors remain same B. Minimum if other factors remain same
C. Maximum if other factors remain same D. No effect if other factors remain same
Answer: Option A
Explanation:
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: Option D
Explanation:
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: Option C
Explanation:
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: Option D
Explanation:
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: Option C
Explanation:
121. 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 D. Not known

Answer: Option A
Explanation:
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: Option A
Explanation:
123. In a complete farm planning due consideration is given to:
A. Resource use and restrictive B. Relationship among different enterprises
C. Goods managerial skill of the operator D. All of above
Answer: Option D
Explanation:
124. In a manufacturing industry generally applies law of:
A. Constant return B. Increasing return
C. Decreasing return D. All of the above
Answer: Option A
Explanation:
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: Option C
Explanation:
126. In capitalistic farming, te land is owned by:
A. Land lord B. Factory lord
C. Both (a) and (b) D. Government
Answer: Option C
Explanation:
127. In classical production function when average product is incresing:
Marginal product is less than average Marginal product is equal to average

A. B.
product product
Marginal product is greater than average

product
Answer: Option C
Explanation:
128. In classical production function, rational zone is always:
A. First zone B. Second zone
C. Third zone D. None of the above
Answer: Option B
Explanation:
129. In economics the term 'land' as a factor of production includes:
A. Mineral wealth B. Sub-soil water and crops raised
C. Canals and dams D. All of the above
Answer: Option D
Explanation:
130. In economics the term 'labour' means:
A. Only manual labour B. Only mental work
C. Manual and mental work D. None of these
Answer: Option C
Explanation:
131. In law of supply the relationship between price and quantity supplied is:
A. Direct B. Indirect
C. Both (a) and (b) D. None of the above
Answer: Option A
Explanation:
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: Option A
Explanation:
133. Who wrote the book, "The Theory of Monopolistic Competition":
A. Joan Robinson B. E.H. Chamberlin
C. A.C. Pigou D. Frederic Benham
Answer: Option B
Explanation:
134. In pesant farming the owner of the land is:
A. Land lord B. Co-operative society
C. Government D. Farmer
Answer: Option D
Explanation:
135. In prefect competition, there are:
Large number of buyers and few number of Large number of sellers and few number of
A. B.
seller in the market buyers in the market
Number of buyers and sellers are large and

C. D. All of above
nearly equal
Answer: Option C
Explanation:
136. The fource of finance of State Co-operative Bank is:
A. Deposits from member and non-members B. Borrow from State Government etc.
Answer: Option C
Explanation:
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: Option A
Explanation:
138. Which of the following is not merit of open auction system?
A wide variety of goods are available to

A. It disposes of the market supply promptly B.
buyers for selection
The payments of the price of the goods is

C. The buyers of small lots have disadvantage D.
made immediately
Answer: Option C
Explanation:
139. In which method of sale, prices are fixed by mutual agreement:
A. Dara sale B. Under cover of a cloth
C. Private negotiation D. Close tender system
Answer: Option C
Explanation:
140. In which planning period profit rule says that gross return should cover variable cost:
A. Long run B. Short run
Answer: Option B
Explanation:
141. In which planning period we can change the output by altering the size of form:
Answer: Option A
Explanation:
142. In which planning period we can change the output without altering the size of the plant:
C. Accounting period D. Base year period
Answer: Option B
Explanation:
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: Option D
Explanation:
144. A boom is marked by:
A. Full employment B. Under employment
C. Overfull employment D. None of the above
Answer: Option C
Explanation:
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 D. None of the above
Answer: Option A
Explanation:
146. Which of the following is not component of farm business?
A. Capital B. Environment
C. Land D. Management
Answer: Option B
Explanation:
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: Option A
Explanation:
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: Option C
Explanation:
149. Income tax is a:
A. Direct tax B. Indirect tax
150. Which of the following is not a factor-affecting rate of market development?
A. Nature of demand B. Nature of product
C. Transportation of communication D. Disturbance and un-security
Answer: Option D
Explanation:
151. Indifference curve are those curve:
A. Which are circular in shape B. Which are concave in shape
C. Which does not intersect to each other D. Which always cuts the axis
Answer: Option C
Explanation:

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: Option C
Explanation:
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: Option C
Explanation:
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: Option B
Explanation:
155. Initial utility is the utility of the:
A. First unit B. Last unit
C. Marginal units D. Third unit

Answer: Option A
Explanation:
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: Option B
Explanation:
157. Which of the following is not a component of farm business?
A. Land B. Capital
C. Labour and Management D. Water
Answer: Option D
Explanation:
158. Land holding of either 10 or more hectares have been classified as:
A. Semi-medium B. Medium
C. Semi-large D. Large
Answer: Option D
Explanation:
159. Land reforms have been equated with total ______ development:
A. Urban B. Agrarian
C. Industrial D. Education
Answer: Option B
Explanation:
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: Option C
Explanation:
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: Option D
Explanation:
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: Option B
Explanation:
163. M.P.P. is equal to (P = Production, X = input):
A. rP/rX B. rX/rP
C. P/X D. rX/rP x 100
Answer: Option A
Explanation:
164. Main functions of a Central Bank are:
To regulate entire banking institute of the

A. To serve as an ideal banking institution B.
state
C. To issue paper currency D. To serve as a government bankers
Answer: Option B
Explanation:
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: Option A
Explanation:
166. Man's wants are:
A. Limited B. Unlimited
C. Countable D. Scarce
Answer: Option B
Explanation:

167. Management decisions, which involve lasting effects, are known as:
A. Operational decisions B. Strtegic decisions
C. Marketing problem decisions D. Administrative decisions
Answer: Option B
Explanation:
168. Marginal cost is equal to:
A. Change in total cost/change in output B. Change in total cost + 100
C. Average fixed cost D. None of the above
Answer: Option A
Explanation:
169. Morginal cost is equal to:
The average cost of the total output The difference between average cost and
A. B.
produced the cost of the last unit produced
The extra cost of an additional unit

C. The cost of the last but one unit produced D.
produced
Answer: Option D
Explanation:
170. Marginal cost is the:
Change in cost due to one unit change in Change in cost due to one unit change in
A. B.
input output
Change in variable cost due to one unit

change in input

Answer: Option B
Explanation:
171. Marginal farmers are those farmers having land holding:
A. Less than 5 acres B. Less than 2 acres
C. Less than 1 acre D. All of those
Answer: Option B
Explanation:
172. Marginal product is the:
A. Output per unit of input B. Total output divided by total input
Change in output due to one unit change in Change in input due to one unit change in
C. D.
input output
Answer: Option C
Explanation:
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: Option C
Explanation:
174. Market demand curve is faced by:
A. Monopolist B. Competitive firm
C. Joint firm D. Oligopolic firm

Answer: Option B
Explanation:
175. Marshall defines economics as:
The study of human behaviour as a

The study of mankind in the ordinary
A. B. relationship between ends and scarce
business of life
means, which have alternative uses
An enquiry into the nature and causes of

C. D. Fundamentally a science of scarcity
the wealth of nation
Answer: Option A
Explanation:
176. Marshall's definition of economics has been criticized by:
A. Ricardo B. Robbins
C. Ruskin D. Carlyle
Answer: Option B
Explanation:
177. Maximum profit will be at the point where:
A. M.C. = M.R. B. M.C. is more than M.R.
C. M.C. is less than M.R. D. None of the above
Answer: Option A
Explanation:

178. Means to satisfy human wants are:
A. Unlimited B. Limited
Answer: Option A
Explanation:
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: Option A
Explanation:
180. Which are of the following is administrative decision?
A. Financing the farm business B. Accounting and book-keeping
Adjustments of government programmes

C. D. All of these
and policies
Answer: Option D
Explanation:
181. Mines and Fishes are subject to the law of:
A. Diminishing return B. Increasing return
C. Constant return D. None of the above
Answer: Option A
Explanation:
182. Which of this statement are correct?
Agriculture economic may be taken as the Agriculture economic is more intimately

A. B.
branch of both of agriculture and economics related to economics then to agriculture
Agricultural economics is nothing but

C. application of economic principles to D. All of these
agriculture
Answer: Option D
Explanation:
183. When we study a problem from particular to general, the method is known as?
A. Deductive method B. Inductive method
Answer: Option B
Explanation:
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: Option C
Explanation:
185. Net capital ration is equal to:
A. Total assets/Total liabilities B. Total liabilities/Total assets
C. Total assets/Current liabilities D. None of the above

Answer: Option A
Explanation:
186. Net return per hectare is:
A. Overall efficiency measure B. Partial efficiency measure
C. Specific efficiency measure D. None of the above
Answer: Option A
Explanation:
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
Answer: Option B
Explanation:
188. Opportunity cost is:
A. Cost of supplementary enterprise B. Cost of next best alternative foregone
C. Cost of cultivation D. Cost of production
Answer: Option B
Explanation:
189. Optimizing the use of farm resources on an individual farm level. It is a:

A. Farm management B. Production economics
C. Agricultural marketing D. Macro economics
Answer: Option A
Explanation:
190. Who has contributed the modern theory of interest?
A. Knut Wicksell B. Gunnar Myrdal
C. J.R. Hicks D. R.G.Hawtrey
Answer: Option C
Explanation:
191. Patents and copyrights are:
A. Material goods B. Non-material goods
C. Transferable goods D. Scare goods
Answer: Option B
Explanation:
192. Payment made to labour for its assistance to production, is called:
A. Rent B. Wage
C. Interest D. None of the above
Answer: Option B
Explanation:
193. Per hectare calculated cost is known as:

A. Cost of cultivation B. Cost of production
C. Cost of farming D. Total cost
Answer: Option A
Explanation:
194. Per Qunital calculated cost is known as:
A. Cost of cultivation B. Cost of production
C. Cost of farming D. None of the above
Answer: Option B
Explanation:
195. When total utility increases, marginal utility is?
A. Zero B. Positive
C. Negative D. None of the above
Answer: Option B
Explanation:
196. Persons who expects that prices will go down in future are:
A. Bulls B. Bears
C. Retailers D. Whole sellers
Answer: Option B
Explanation:
197. Persons who expect that price will go up in future are known as:
A. Bulls B. Bears
C. Whole sellers D. Dalal
Answer: Option A
Explanation:
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: Option B
Explanation:
199. Primary wholesale market, secondary wholesale market and terminal market are the kind of:
A. Wholesale market B. Co-operative market
Answer: Option A
Explanation:
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: Option A
Explanation:
201. Quantitated instrument of monetary policy includes:
A. Bank rate B. Legal reserve requirements
C. Open market operations D. All of the above
Answer: Option D
Explanation:
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: Option B
Explanation:
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: Option A
Explanation:
204. The relationship between cost function and production function is:
A. Positive B. Negative
C. Increase D. None of these

Answer: Option B
Explanation:
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: Option B
Explanation:
206. Regulated markets are those in which:
Business is conducted without any set rules Business is conducted with the rules and
A. B.
and regulations regulations framed by statutory market
Bonds, shares and securities are bought and

sold
Answer: Option B
Explanation:
207. Rent arises under:
A. Extensive cultivation B. Intensive cultivation
Answer: Option A
Explanation:
208. When total product is highest, marginal product will be?

A. Minimum B. Maximum
C. Zero D. Increasing
Answer: Option C
Explanation:
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: Option B
Explanation:
210. Royal Commission of agriculture submitted its report in:
A. 1905 B. 1928
C. 1929 D. 1976
Answer: Option B
Explanation:
211. Selection and adoption of best packages of practices comes under:
A. Agricultural marketing B. Systems of farming
C. Types of farming D. Farm management
Answer: Option D
Explanation:
212. When quantity demanded of a commodity decreases with the increase in its price, it is called?
A. Decrease in demand B. Extension of demand
C. Contrction of demand D. Increase in supply
Answer: Option A
Explanation:
213. When price rises, demand?
A. Decreases B. Contracts
C. Increases D. Remain same
Answer: Option A
Explanation:
214. When marginal product is zero, the total product is?
A. Maximum B. Minimum
C. Zero D. None of the above
Answer: Option A
Explanation:
215. Perfect Elasticity is shown by:
A. Vertical straight line B. Horizontal straight line
C. Slopping curve right to left D. Slopping curve left to right
Answer: Option B
Explanation:
216. Smaller than economic holding is known as:
A. Optimum holding B. Ownership holding
C. Basic holding D. None of the above
Answer: Option C
Explanation:
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: Option C
Explanation:
218. Specialized farming and diversified farming are:
A. Types of farming B. Systems of farming
Answer: Option A
Explanation:
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: Option D
Explanation:
220. Star TV is controlled at:
A. Hong Kong B. Tokyo
C. Singapore D. London
Answer: Option A
Explanation:
221. When increase or decrease in the level of one product does not affect the production level of another product,
this relationship is known as?
A. Competitive B. Complementary
C. Supplementary D. Joint product
Answer: Option C
Explanation:
222. Storage function creates:
A. Form utility B. Possession utility
C. Time utility D. Place Utility
Answer: Option C
Explanation:
223. Success of a farm plan depends to a great extent, on the accuracy of basic date regarding:
Right production of crops and livestock in

A. Estimates of production from crops animals B.
relation to fodder and feed requirement
Availability of capital for investment in a
C. D. All of these
particular enterprise
Answer: Option D
Explanation:
224. Sufficient condition of farm efficiency is generally referred to as choice indicator becaue it:
Is a valid criterion of the assumption of Is consistent with the choices made under
A. B.
certainty perfect competition
Is consistent with the welfare increase to Helps to make allocation compatible with
C. D.
the farming population the given objectives
Answer: Option D
Explanation:
225. Sunlight is:
A. free godd B. Economic good
Answer: Option A
Explanation:
226. Supply for perishables in very short run:
A. Can be increased B. Can be decreased
C. Remains constant D. None of these
Answer: Option C
Explanation:
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: Option A
Explanation:
228. What is the basic consideration for advancing crop loan by commercial banks?
To access the repayment capacity of the

A. B. To advance loans at cheaper rates
farmers
C. Cost of production per unit of area D. To advance loans to weaker sections
Answer: Option C
Explanation:
229. Wealth is a:
A. Fund B. Flow resources
C. Income D. Capital
Answer: Option A
Explanation:
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: Option D
Explanation:
231. Utility of the last unit is called as:
A. Marginal utility B. Initial utility
C. Total utility D. Zero utility
Answer: Option A
Explanation:
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: Option A
Explanation:
233. Utility in economics means:
A. Usefulness B. Pleasure
C. Want-satisfying power of a commodity D. Satisfaction
Answer: Option C
Explanation:
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: Option A
Explanation:
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: Option C
Explanation:
236. The author of the "wealth of nations" was:
A. Marshall B. Ricardo
C. Robbins D. Adam Smith
Answer: Option D
Explanation:
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: Option C
Explanation:
238. Total output is maximum t the point when:
A. Average product is maximum B. Average product is zero

C. Marginal product is zero D. Marginal product is maximum
Answer: Option C
Explanation:
239. Total cost is equal to:
A. Fixed cost + Variable cost B. Fixed cost + Variable cost/100
C. Fixed cost - Variable cost D. None of the above
Answer: Option A
Explanation:
240. The Canons of taxation were given by:
A. Adam Smith B. Rob ins
C. Pigou D. Marshall
Answer: Option A
Explanation:
241. The classical theory of interest is also called as:
A. Real theory of interest B. Menetary theory of interest
C. Lonable funds theory D. Liquidity preference theory
Answer: Option A
Explanation:
242. The cost incurred by a firm in purchasing any factor of production is referred to as:
A. Explicit cost B. Implicit cost

C. Variable cost D. None of these
Answer: Option B
Explanation:
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
Answer: Option A
Explanation:
244. The cost which are not paid to others, are called:
A. Explicit cost B. Implicit cost
Answer: Option B
Explanation:
245. The cost which is varying with the output is called:
A. Average variable cost B. Average fixed cost
C. Variable cost D. Fixed cost
Answer: Option C
Explanation:

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:
Production and organization problem

A. Administration problem decisions B.
decision
C. Buying decision D. Selling decision
Answer: Option B
Explanation:
247. The demand for common salt is:
A. Perfectly elastic B. High inelastic
C. Inelastic D. Both (b) and (c)
Answer: Option C
Explanation:
248. The demand for wheat is:
A. Perfectly elastic B. High inelastic
C. Very elastic D. Less elastic
Answer: Option D
Explanation:
249. The expenditure on ______ increases as income increases:
A. Necessaries B. Comforts
C. Luxuries D. All of these
Answer: Option B
Explanation:
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: Option C
Explanation:
251. The individuals granted broad powers by those who purchase are known as:
A. Brokers B. Speculated middleman
C. Commission agents D. Whole sellers
Answer: Option C
Explanation:
252. The want satisfying power of commodity is called :
A. Demand B. Utility
C. Consumption D. Production
Answer: Option B
Explanation:
253. To whom do you attribute the 'Concept of consumer's Surplus'?
A. A.C. Pigou B. Alfred Marshall
C. H.H. Gossen D. Barbura wootton
Answer: Option B
Explanation:
254. The formula for rate of capital turn over is:
A. Gross Income/Total Farm Assests x 100 B. Net Income / Total Farm Assests x 100
C. Total Farm Assets / Net Farm Income x 100 D. None of the above
Answer: Option A
Explanation:
255. The function of successful farm manager is:
A. Formation of the goals B. Recognition and definition of a problem
C. Decision making and taking action D. All of these
Answer: Option D
Explanation:
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: Option B
Explanation:
257. The total fixed cost curve:
A. Increase with the level of output B. Remains constant at all the output
C. Decreases as output increases D. Both (b) and (c)

Answer: Option B
Explanation:
258. The inflection point on total product curve corresponds to the:
A. Maximum of marginal product curve B. Maximum of average product curve
C. Maximum of total product curve D. Minimum of marginal product curve
Answer: Option D
Explanation:
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: Option B
Explanation:
260. The law of diminishing returns applies more generally to:
A. Cloth Industry B. Chemical Industry
C. Agricultural Industry D. Film Industry
Answer: Option C
Explanation:
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: Option A
Explanation:
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: Option B
Explanation:
263. The term oligopoly means:
A. There is two or more buyer B. There is two or more seller of a commodity
C. There is single seller of a commodity D. None of the above
Answer: Option B
Explanation:
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: Option B
Explanation:
265. The meanings of the word 'Economics' is most closely associated with the word:
A. Scarce B. Free
C. Unlimited D. Expenditure
Answer: Option A
Explanation:
266. Which of the following definitions of economics includes the economic concept of 'Scales of Preferences'?
A. Wealth' Definition B. Welfare' Definition
C. Scarcity' Definition D. Isolation' Definition
Answer: Option C
Explanation:
267. The modern theory of population is called:
A. Classical theory of population B. Optimum theory of Population
C. Demand and supply theory of population D. None of the above
Answer: Option C
Explanation:
268. The Money paid for the use of money borrowed is nothing but:
A. Profit B. Rent
C. Premium D. Interest
Answer: Option D
Explanation:
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: Option A
Explanation:
270. The most common method exist in regulated markets is:
A. Close tender system B. Open auction system
C. Dara sale D. Moghum sale
Answer: Option B
Explanation:
271. The most influence factor of inflation is increase in money supply and _____ in production:
A. Increase B. No effect
C. Decrease D. None of the above
Answer: Option B
Explanation:
272. The most liquid assets are:
A. Fixed assets B. Working assets
C. Currents assets D. Liabilities
Answer: Option B
Explanation:
273. The object of subsistence farm is to produce:
A. Essential food crops for family and market B. Essential food crops for family only
C. Food and fibre crops for family and market D. Vegetable crops for family only
Answer: Option B
Explanation:
274. The term monpoloy means:
When there is only one seller of a When there is only two seller of a
A. B.
commodity commodity
When there is only two seller of a When there is only one buyer of a
C. D.
commodity commodity
E. None of the above
Answer: Option A
Explanation:
275. The term monopolistic competition means:
A large number of seller heterogeneous A few number of sellers deal heterogeneous

A. B.
commodity commodity
A large number of buyers deal in

heterogeneous commodity
Answer: Option A
Explanation:
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: Option B
Explanation:
277. The term "Agricultural Economics" is used in preference to the term "Rural Economics" for the following
reason:
Agricultural economics is more widely Agricultural economics is far more popular

A. B.
understood than the rutal economics term than the rural economics
Answer: Option C
Explanation:
278. The peculiarities of land as a factor of production are:
A. A free gift of nature B. Permanent in nature
C. Limited in area D. Completely immobile
Answer: Option A
Explanation:
279. The term 'operatonal holding' refers to the:
A. Land area owned by a farmer B. Cropped area cultivted by a farmer
C. Net land area cultivated by a farmer D. Land area leased in by a farmer
Answer: Option C
Explanation:
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: Option C
Explanation:
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: Option A
Explanation:
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: Option C
Explanation:
283. The primary cooperative credit societies have:
A. Two-tier structure B. Four-tier structure
C. Three-tier structure D. None of the above
Answer: Option C
Explanation:
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: Option D
Explanation:
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: Option A
Explanation:
286. The principles of taxation were given by:
A. Marshall B. Adam Smith
C. Hicks D. None of the above
Answer: Option B
Explanation:
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: Option C
Explanation:
288. The process of transformation of certain resources of inputs is known as:
A. Product B. Production function
C. Production D. Consumption
Answer: Option C
Explanation:

Agri Economics Question For Ao TNPSC Exam

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Agri Economics Question For Ao TNPSC Exam

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AgRICULtURAL EcONOMICS ANS FARM MAMAGEMENT

1. ______ an application of the accounting principles to the business of farming:

A. Farm planning B. Farm budgeting

C. Farm accounting D. Marketing

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2. Beef' and 'hides' are examples of:

A. Independent enterprise B. Joint enterprise

C. Supplementary enterprise D. Competitive enterprise

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3. Which of the following is not correctly matched?

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C. Keynes D. None of above

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A. Prof. J.B. Say B. Prof. Pigou

C. Prof. Keynes D. None of above

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6. Which one of the following pairs is not correctly matched?

Elasticity of production = Stage III of

Average product decreases but is greater

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7. World Trade Organization (W.T.O.) was established in:

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A. Diminishing marginal utility B. Increasing cost

C. Equi-marginal utility D. Least cost

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9. A crop loan over Rs. 1,00,000 will require:

A. Equitable mortagage B. Registered mortgage of land

C. Personal security D. None of these

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A. Small farmers B. Marginal farmers

C. Big farmers D. None of the above

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A. Marginal farmer B. Small farmer

C. Optimal farmer D. None of the above

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A. Small farmers B. Big farmer

C. Marginal farmer D. Argicultural labour

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13. A group of technical units are known as:

A. Farm firm B. Plant

C. Economic unit D. All above

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A. Basic holding B. Optimum holding

C. Operational holding D. Economic holding

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A. Optimum holding B. Marginal holding

C. Profitable holding D. None of the above

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A. Spot B. Cash market

C. Forward market D. General market

Answer & Explanation