Agricultural Economics Part 2
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Question No. 1
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What is the basic unit of civilization?
A.
Family
B.
Village
C.
Society
D.
Individual
Question No. 2
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What is the basic unit of rural society?
A.
Village
B.
Family
C.
Community
D.
Hamlet
Question No. 3
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In which year was the Cooperative movement started in India?
A.
1904
B.
1914
C.
1924
D.
1934
Question No. 4
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Who is considered the father of the cooperative movement in India?
A.
F. Nicholson
B.
M.S. Swaminathan
C.
Verghese Kurien
D.
Norman Borlaug
Question No. 5
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In farm production, capital is considered what type of factor?
A.
Passive
B.
Active
C.
Variable
D.
Dynamic
Question No. 6
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In farm management, labor is considered what type of factor?
A.
Active
B.
Passive
C.
Fixed
D.
Variable
Question No. 7
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In which year was the Agricultural Produce Act passed?
A.
1937
B.
1947
C.
1957
D.
1967
Question No. 8
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In which year was AGMARK established?
A.
1937
B.
1947
C.
1957
D.
1967
Question No. 9
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In which year was the Planning Commission established?
A.
1950
B.
1960
C.
1970
D.
1980
Question No. 10
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What type of tax is VAT (Value Added Tax)?
A.
Indirect
B.
Direct
C.
Progressive
D.
Regressive
Question No. 11
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What is the agricultural year in India?
A.
June 1st to May 31st
B.
January 1st to December 31st
C.
April 1st to March 31st
D.
July 1st to June 30th
Question No. 12
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What is the financial year in India?
A.
April 1st to March 31st
B.
January 1st to December 31st
C.
June 1st to May 31st
D.
July 1st to June 30th
Question No. 13
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The demand for luxurious goods is generally considered:
A.
More elastic
B.
Inelastic
C.
Unitary elastic
D.
Perfectly elastic
Question No. 14
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The demand for necessary commodities is generally considered:
A.
Inelastic
B.
More elastic
C.
Unitary elastic
D.
Perfectly inelastic
Question No. 15
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Which of the following is an important fixed cost on a farm?
A.
Land rent
B.
Seed cost
C.
Fertilizer cost
D.
Labor cost
Question No. 16
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The demand for agricultural products, in general, is:
A.
Inelastic
B.
More elastic
C.
Unitary elastic
D.
Perfectly elastic
Question No. 17
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The price elasticity of demand for 'food' is:
A.
Relatively inelastic
B.
Relatively elastic
C.
Unitary elastic
D.
Perfectly inelastic
Question No. 18
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The Indian economy is best described as:
A.
Mixed type
B.
Capitalist
C.
Socialist
D.
Command
Question No. 19
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What was the period of the 11th Five Year Plan in India?
A.
2007-2012
B.
2002-2007
C.
2012-2017
D.
2005-2010
Question No. 20
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Risk is generally minimized in:
A.
Diversified farming
B.
Monoculture farming
C.
Intensive farming
D.
Extensive farming
Question No. 21
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Short-term credit facilities are primarily given for:
A.
Crop production
B.
Land improvement
C.
Farm machinery purchase
D.
Construction of farm buildings
Question No. 22
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Finance provided by land development banks is typically for:
A.
Long-term loans
B.
Short-term loans
C.
Medium-term loans
D.
Working capital
Question No. 23
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Retail markets are generally considered to be:
A.
Perfect markets
B.
Imperfect markets
C.
Monopolistic markets
D.
Oligopolistic markets
Question No. 24
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The most important component in farm management is:
A.
Farm budgeting
B.
Record keeping
C.
Marketing strategy
D.
Labor management
Question No. 25
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When marginal utility is zero, total utility is:
A.
Maximum
B.
Minimum
C.
Increasing
D.
Decreasing
Question No. 26
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The principle of Equi-marginal returns is applied when:
A.
Resources are limited
B.
Resources are unlimited
C.
Market prices are stable
D.
Technology is advanced
Question No. 27
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At present, the farming system of India has become increasingly:
A.
Market oriented
B.
Subsistence oriented
C.
Production oriented
D.
Input oriented
Question No. 28
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The U-shape of cost curves is best explained by the law of:
A.
Variable proportions
B.
Diminishing returns
C.
Increasing returns
D.
Constant returns
Question No. 29
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NABARD was established on July 12, 1982, based on the recommendation of which committee?
A.
Shivaraman committee
B.
Narasimhan committee
C.
Raj committee
D.
Khusro committee
Question No. 30
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A market structure with a large number of firms selling differentiated products is called:
A.
Perfect competition
B.
Monopolistic competition
C.
Oligopoly
D.
Monopoly
Question No. 31
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A most important principle in farm management is:
A.
Law of diminishing returns
B.
Law of increasing returns
C.
Law of constant returns
D.
Law of supply and demand
Question No. 32
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The cost of production of a crop can be minimized by using the economic principle of:
A.
Principle of least cost combination
B.
Principle of maximum profit
C.
Principle of equal marginal returns
D.
Principle of diminishing returns
Question No. 33
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The apex body for institutional finance for agriculture in India is:
A.
NABARD
B.
RBI
C.
SBI
D.
ICAR
Question No. 34
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The National Centre for Agricultural Economics and Policy Research is located at:
A.
New Delhi
B.
Hyderabad
C.
Bangalore
D.
Mumbai
Question No. 35
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According to the law of diminishing returns, the economically relevant zone is:
A.
Zone II
B.
Zone I
C.
Zone III
D.
Zone IV
Question No. 36
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The law of diminishing returns operates when:
A.
One input is variable
B.
All inputs are variable
C.
No input is variable
D.
Technology is constant
Question No. 37
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The Indian economy is a type of:
A.
Mixed economy
B.
Capitalist economy
C.
Socialist economy
D.
Command economy
Question No. 38
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Who is considered the father of economics?
A.
Adam Smith
B.
Karl Marx
C.
John Maynard Keynes
D.
Alfred Marshall
Question No. 39
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The share of capital is often referred to as:
A.
Interest
B.
Profit
C.
Rent
D.
Wages
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