Agricultural Economics MCQ Question and Answer

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Each section contains 100 MCQs on Agricultural Economics .

Law of substitution is given by

A) Marshall B) Smith C) Gossen D) Acharya

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

When both the price of a substitute and price of a component of commodity X rise, demand for X

A) Falls B) Rises C) No change D) All are possible

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

A production function with unitary elasticity indicates

A) Increasing returns B) Decreasingreturns C) Nothing D) Constant returns

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

In the short-run, average cost, average variable cost and marginal cost curves are U-shaped due to the operation of

A) Law of equimarginal returns B) Substitution between two factor inputs C) Law of variable proportion D) Time comparison principle

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

Which of the following is also referred to as opportunity cost

A) Money cost B) Alternative cost C) Social cost D) Fixed cost

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

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 principles of fixed and variable cost D) The law of equimarginal returns

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

Full employed is noticed in

A) Recession B) Depression C) Both A and B D) None of these

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

In India, first Land Development Bank was established at

A) Uttar Pradesh B) Punjab C) Bihar D) Gujarat

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Equity value of the firm is known/derived from

A) Balance sheet B) Income statement C) Cash flow statement D) Budgeting

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

Marginal cost is equal to

A) Change in total cost/change in output B) Change in total cost + 100 C) Average fixed cost D) Average total cost

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

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Agricultural Economics MCQ Question and Answer | Agriculture MCQ Question