Agricultural Economics Part 1
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Question No. 1
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Who propounded the modern theory of interest?
A.
A.P. Lerner
B.
Adam Smith
C.
Malthus
D.
Hicks-Hansen
Question No. 2
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Which of the following economists is associated with the theory of absolute advantage?
A.
Malthus
B.
A.P. Lerner
C.
Adam Smith
D.
Hicks-Hansen
Question No. 3
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The Malthusian theory is primarily concerned with:
A.
Inflation
B.
Profit
C.
Population
D.
Interest
Question No. 4
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Which theory explains the continuous increase in the general price level?
A.
Theory of Profit
B.
Theory of Inflation
C.
Theory of Absolute Advantage
D.
Population Theory
Question No. 5
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According to land holding, a farmer with less than 1 hectare of land is classified as:
A.
Small farmer
B.
Marginal farmer
C.
Medium farmer
D.
Large farmer
Question No. 6
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A farmer owning land between 1 and 2 hectares is classified as:
A.
Marginal farmer
B.
Small farmer
C.
Medium farmer
D.
Large farmer
Question No. 7
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Which category of farmers owns land between 2 and 4 hectares?
A.
Large farmer
B.
Small farmer
C.
Marginal farmer
D.
Medium farmer
Question No. 8
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Farmers with more than 4 hectares of land are classified as:
A.
Medium farmer
B.
Small farmer
C.
Large farmer
D.
Marginal farmer
Question No. 9
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Loans with a repayment period of 1 to 1.5 years are categorized as:
A.
Long term
B.
Medium term
C.
Short term/crop loan
D.
None of these
Question No. 10
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Agricultural loans with a duration of 1.5 to 5 years are classified as:
A.
Short term/crop loan
B.
Long term
C.
Medium term
D.
None of these
Question No. 11
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Loans for purchasing land or farm buildings typically fall under which category?
A.
Short term/crop loan
B.
Medium term
C.
Long term
D.
None of these
Question No. 12
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What is the formula for the net capital ratio?
A.
Total liabilities/Total assets
B.
Total assets x Total liabilities
C.
Total assets/Total liabilities
D.
Total liabilities - Total assets
Question No. 13
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Working capital is calculated as:
A.
Working assets - Current assets
B.
Working assets + Current assets
C.
Working assets / Current assets
D.
Working assets x Current assets
Question No. 14
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Which of the following represents intermediary liabilities plus current liabilities?
A.
Debt Equity Ratio
B.
Net Capital Ratio
C.
Working Capital
D.
None of these
Question No. 15
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The debt-equity ratio is calculated as:
A.
Net Worth/Differed Liabilities
B.
Differed Liabilities/Net Worth
C.
Total Assets/Total Liabilities
D.
Total Liabilities-Net Worth
Question No. 16
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Production efficiency is measured by:
A.
Yield of locality/Yield per acre x 100
B.
Yield per acre/Yield of locality x 100
C.
Yield per acre x Yield of locality x 100
D.
Yield per acre + Yield of locality x 100
Question No. 17
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The operating cost ratio is calculated as:
A.
Total profit/Total operation cost
B.
Total operation cost x Total profit
C.
Total operation cost/Total profit
D.
Total operation cost + Total profit
Question No. 18
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The rate of capital turnover is calculated as:
A.
Total farm income/Gross income x 100
B.
Gross income/Total farm income x 100
C.
Gross income x Total farm income x 100
D.
Gross income - Total farm income x 100
Question No. 19
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Which approach focuses on decisions made for the aggregate resources of a nation?
A.
Farm management
B.
Micro approach
C.
Production economics
D.
Macro approach
Question No. 20
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Farm management primarily deals with:
A.
Aggregate resource allocation
B.
Individual farm decisions
C.
National economic policies
D.
International trade
Question No. 21
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Intra-farm science is associated with:
A.
Macroeconomics
B.
Production economics
C.
Farm management
D.
Inter-farm science
Question No. 22
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Cost of variable inputs is also known as:
A.
Fixed cost
B.
Sunk cost
C.
Variable cost
D.
Opportunity cost
Question No. 23
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Which type of cost does not change with the level of output?
A.
Variable cost
B.
Fixed cost
C.
Marginal cost
D.
Average cost
Question No. 24
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Which cost can be both cash and non-cash?
A.
Variable cost
B.
Fixed cost
C.
Opportunity cost
D.
Explicit cost
Question No. 25
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An isoproduct curve represents:
A.
Combinations of two commodities with equal satisfaction
B.
Combinations of two inputs with the same output
C.
Combinations of two outputs with the same input
D.
Combinations of two prices with the same profit
Question No. 26
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An indifference curve shows:
A.
Combinations of two inputs with the same output
B.
Combinations of two commodities with equal satisfaction
C.
Combinations of two prices with the same profit
D.
Combinations of two outputs with the same input
Question No. 27
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Loans for purchasing seeds and fertilizers are categorized as:
A.
Medium term loans
B.
Long term loans
C.
Short term loans
D.
None of these
Question No. 28
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Which type of loan is typically used to purchase agricultural equipment like tractors?
A.
Short term loans
B.
Medium term loans
C.
Long term loans
D.
None of these
Question No. 29
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Long term agricultural credit is used for:
A.
Purchasing seeds
B.
Purchasing fertilizers
C.
Purchasing land
D.
Purchasing animals
Question No. 30
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A farm where income from a single product is less than 50% of the total is an example of:
A.
Specialized farming
B.
Diversified farming
C.
Mixed farming
D.
Subsistence farming
Question No. 31
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When income from a single enterprise is 50% or more of the total farm income, it's called:
A.
Diversified farming
B.
Specialized farming
C.
Mixed farming
D.
Subsistence farming
Question No. 32
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Marketable surplus is defined as:
A.
Total production + Total requirement
B.
Total production / Total requirement
C.
Total production - Total requirement
D.
Total production x Total requirement
Question No. 33
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Which of the following is true about marketable and marketed surplus under ideal conditions?
A.
Marketable surplus > Marketed surplus
B.
Marketable surplus < Marketed surplus
C.
Marketable surplus = Marketed surplus
D.
Marketable surplus ≠ Marketed surplus
Question No. 34
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Marketed surplus refers to:
A.
The portion of produce a farmer intends to sell
B.
The quantity of produce actually sold in the market
C.
The total produce in stock
D.
The total requirement of the farmer
Question No. 35
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Land and buildings are examples of which type of assets?
A.
Current assets
B.
Working assets
C.
Fixed assets
D.
Liquid assets
Question No. 36
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Farm machinery and equipment fall under which asset category?
A.
Current assets
B.
Working assets
C.
Fixed assets
D.
Intangible assets
Question No. 37
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Seeds, fertilizers, and cash are examples of:
A.
Fixed assets
B.
Working assets
C.
Current assets
D.
Intangible assets
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