MCQOPTIONS
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MCQOPTIONS
This section includes 225 Mcqs, each offering curated multiple-choice questions to sharpen your Agriculture knowledge and support exam preparation. Choose a topic below to get started.
| 151. |
An economic system in which property resources are publicly owned and govt uses central economic planning to direct & coordinate economic activities ? |
| A. | Command economy |
| B. | Closed economy |
| C. | Open economy |
| D. | None |
| Answer» B. Closed economy | |
| 152. |
An economic system in which property resources are privately owned and markets and prices are used to direct and coordinate economic activities________________? |
| A. | Pure capitalism |
| B. | Command Economy |
| C. | Closed economy |
| D. | Open economy |
| Answer» B. Command Economy | |
| 153. |
An economic plan that sets targets to cover all the major sectors of the national economy? |
| A. | Centralized plan |
| B. | Comprehensive plan |
| C. | Commune |
| D. | None |
| Answer» C. Commune | |
| 154. |
An asset set aside for future use is termed as_______________________? |
| A. | Future planning |
| B. | Store of value |
| C. | Speculation |
| D. | None |
| Answer» C. Speculation | |
| 155. |
An analytic approach in which we move from general to particular from theory to facts is_________________? |
| A. | Induction |
| B. | Deduction |
| C. | Specification |
| D. | None |
| Answer» C. Specification | |
| 156. |
An analytic approach in which we move from facts to theory, from a particular to general is called____________________? |
| A. | Induction |
| B. | Deduction |
| C. | Generalization |
| D. | Randomization |
| Answer» B. Deduction | |
| 157. |
An agreement among sellers of a commodity to set a common price or share their commodity market? |
| A. | Oligopoly |
| B. | Monopoly |
| C. | collusion |
| D. | All |
| Answer» B. Monopoly | |
| 158. |
An accounting item which increase the value of an asset___________________? |
| A. | Debit |
| B. | Credit |
| C. | Loan |
| D. | None |
| Answer» C. Loan | |
| 159. |
An accounting item which decreases the value of an asset___________________? |
| A. | Debit |
| B. | Credit |
| C. | Depreciation |
| D. | None |
| Answer» B. Credit | |
| 160. |
Amount of other products which must be foregone or sacrificed to obtain 1 unit of a specific good is called its______________? |
| A. | Opportunity cost |
| B. | Real cost |
| C. | Economic cost |
| D. | None |
| Answer» B. Real cost | |
| 161. |
Allocative efficiency is__________________? |
| A. | Producing all output combinations in least costly way |
| B. | Producing the specific output mix most desired by society |
| C. | Producing the desired things |
| D. | None |
| Answer» B. Producing the specific output mix most desired by society | |
| 162. |
All the goods and services produced in a country in a year plus other sources of income for example foreign exchange earnings, foreign aid, foreign remittance, loans etc are called ? |
| A. | GDP |
| B. | NNp |
| C. | NDP |
| D. | GNP |
| Answer» E. | |
| 163. |
All seem fully employed but in reality much of their time is spent in unproductive activities? |
| A. | Disguised underemployment |
| B. | Underemployment |
| C. | Closed underemployment |
| D. | None |
| Answer» C. Closed underemployment | |
| 164. |
All points on the production possibility curve explain__________________? |
| A. | Allocative efficiency |
| B. | Productive efficiency |
| C. | Less than full use of resources |
| D. | Unattainable levels of output |
| Answer» C. Less than full use of resources | |
| 165. |
All international changes in ownership of merchandise passing across the customs borders of trading countries? |
| A. | Merchandise trade balance |
| B. | International trade laws |
| C. | Trade barriers |
| D. | Merchandise imports and exports |
| Answer» C. Trade barriers | |
| 166. |
“All LDC’s require to take off into a period of self-sustaining economic growth is a massive investment program designed to promote rapid industrialization and the building up of economic infrastructure.” ? |
| A. | Economic development theory |
| B. | Big Push theory of development |
| C. | Rostow’s development plan |
| D. | Harod Domes model |
| Answer» C. Rostow’s development plan | |
| 167. |
All goods and services produced in a country in one year are called its__________________? |
| A. | GNP |
| B. | GDP |
| C. | NDP |
| D. | None of these |
| Answer» C. NDP | |
| 168. |
Agriculture contribution in GNP of developing nations? |
| A. | 20 % |
| B. | 35 % |
| C. | 50 % |
| D. | 14 % |
| Answer» E. | |
| 169. |
Agriculture contribution in GNP of developing nations ? |
| A. | 15 % |
| B. | 13 % |
| C. | 3 % |
| D. | 21 % |
| Answer» D. 21 % | |
| 170. |
Aggregate inequality measures that can vary anywhere from O (perfect equality) to 1 (perfect inequality) are given by________________? |
| A. | Gini co-efficient |
| B. | Rostow’s model |
| C. | Lewis theory |
| D. | None |
| Answer» B. Rostow’s model | |
| 171. |
Advantage that occurs to individual or society as a whole as a result of increase in the consumption of certain types of goods or services by other individuals ? |
| A. | Consumption economics |
| B. | Consumption function |
| C. | Consumption surplus |
| D. | Consumer demand |
| Answer» D. Consumer demand | |
| 172. |
Activities of central bank designed to influence financial variables such as money supply and interest rates? |
| A. | Fiscal policy |
| B. | Economic policy |
| C. | Monitory policy |
| D. | None |
| Answer» E. | |
| 173. |
A type of unemployment used by workers voluntarily changing jobs and by temporary layoffs; unemployment workers between jobs? |
| A. | Underemployment |
| B. | Frictional employment |
| C. | Temporary unemployment |
| D. | None of these |
| Answer» C. Temporary unemployment | |
| 174. |
A type of unemployment caused by insufficient total spending___________________? |
| A. | Under employment |
| B. | Underdevelopment |
| C. | Cyclical unemployment |
| D. | None |
| Answer» D. None | |
| 175. |
A term used by ILO to describe the basic goods and services necessary for a minimum standard of living ? |
| A. | Basic needs |
| B. | Poverty line |
| C. | Gini co-efficient |
| D. | None |
| Answer» B. Poverty line | |
| 176. |
A technological innovation that increase the production while using the same capital input? |
| A. | Capital saving technological process |
| B. | Production intensive technique |
| C. | Capital intensive technique |
| D. | None |
| Answer» C. Capital intensive technique | |
| 177. |
A tax which is a constant amount at all levels of GDP is termwd as ? |
| A. | Fixed tax |
| B. | Surcharge |
| C. | Lump sum tax |
| D. | None |
| Answer» D. None | |
| 178. |
A tax levied on the cost of a board group of products______________________? |
| A. | Income tax |
| B. | Sales tax |
| C. | Consumer charge |
| D. | None |
| Answer» C. Consumer charge | |
| 179. |
A tax imposed by a nation on an imported good is called_________________? |
| A. | Tariff |
| B. | Foreign exchange |
| C. | Net profit |
| D. | GNP |
| Answer» B. Foreign exchange | |
| 180. |
A supply curve shifts because of change in_____________________? |
| A. | The price of the related products |
| B. | Technology |
| C. | Both a and b |
| D. | None of these |
| Answer» B. Technology | |
| 181. |
A summary statement of a nations financial transactions with the outside world ? |
| A. | Balance of payments |
| B. | Trade off |
| C. | Both a and b |
| D. | None |
| Answer» B. Trade off | |
| 182. |
A simplified picture of economic reality, an abstract generalization ? |
| A. | Economic theory |
| B. | Economic principle |
| C. | Economic model |
| D. | None |
| Answer» D. None | |
| 183. |
A section in a nation’s international balance of payments which records its export and import of goods and services, its net investment income, and its net transfers ? |
| A. | Current account |
| B. | Fixed account |
| C. | Saving account |
| D. | Capital account |
| Answer» B. Fixed account | |
| 184. |
A schedule showing the amounts households plan to spend for consumer goods at different levels of disposable income is called________________? |
| A. | Income schedule |
| B. | Saving schedule |
| C. | Consumption schedule |
| D. | None |
| Answer» D. None | |
| 185. |
A rise in the general level of prices in an economy___________________? |
| A. | Inflation |
| B. | Dearnen |
| C. | Both |
| D. | None |
| Answer» B. Dearnen | |
| 186. |
A ratio that shows the unit of capital required to produce a unit of output over a given period of time? |
| A. | Capital input ratio |
| B. | Capital output ratio |
| C. | Capital intensive ratio |
| D. | None |
| Answer» B. Capital output ratio | |
| 187. |
A process of production that uses a higher proportion of capital as compared to other factors of production ? |
| A. | Capital intensive technique |
| B. | Labour intensive technique |
| C. | Both a and b |
| D. | None of these |
| Answer» D. None of these | |
| 188. |
A physical establishment which performs one or more functions in production, fabrication and distribution of goods and services ? |
| A. | Plant |
| B. | Firm |
| C. | Factory |
| D. | None |
| Answer» B. Firm | |
| 189. |
A payment of money or goods & services by a govt. to a household or firm for which the payer receives no good or service directly in return______________? |
| A. | Tax |
| B. | Tariff |
| C. | Transfer payment |
| D. | Subsidy |
| Answer» D. Subsidy | |
| 190. |
A payment of funds by a govt. firm or house hold for which it receives no goods or services in return? |
| A. | Subsidy |
| B. | Tax |
| C. | lump-sum-tax |
| D. | None |
| Answer» B. Tax | |
| 191. |
A particular set of institutional arrangement and a coordinating mechanism is___________________? |
| A. | Economic system |
| B. | Fascism |
| C. | Mixed system |
| D. | None |
| Answer» B. Fascism | |
| 192. |
A minimum price which govt. allows seller to receive for a good or service____________________? |
| A. | Ceiling Price |
| B. | Floor Price |
| C. | Supprot Price |
| D. | All |
| Answer» D. All | |
| 193. |
A measure of the real purchasing power of the community ? |
| A. | Aggregate demand |
| B. | Total effective demand |
| C. | Total expenditure |
| D. | All |
| Answer» E. | |
| 194. |
A measure of average output or real output per unit of input is called____________________? |
| A. | Efficiency |
| B. | Production |
| C. | Productivity |
| D. | None |
| Answer» D. None | |
| 195. |
A market situation in which a product that does not have close substitutes is being produced and sold by a single seller? |
| A. | Oligopoly |
| B. | Monopoly |
| C. | Perfect competition |
| D. | None |
| Answer» D. None | |
| 196. |
A market in which products households sell and firms buy resources or the services of resources is__________________? |
| A. | Resource market |
| B. | Product market |
| C. | Consumer market |
| D. | Producer market |
| Answer» B. Product market | |
| 197. |
A market in which products are sold by firms and bought by households is_________________? |
| A. | Resource market |
| B. | Product market |
| C. | Consumer market |
| D. | None |
| Answer» C. Consumer market | |
| 198. |
A market in which money of one nation can be used to purchase the money of other nation is called____________________? |
| A. | Money market |
| B. | International market |
| C. | Foreign exchange market |
| D. | All of these |
| Answer» D. All of these | |
| 199. |
A line which shows different combinations of two products a consumer can purchase with a specific money income, given the products price? |
| A. | Indifference curve |
| B. | Lorenz curve |
| C. | Budget line |
| D. | Say’s law |
| Answer» D. Say’s law | |
| 200. |
A legal entry chartered by a state or the federal govt. which is district and separate from the individuals who own it ? |
| A. | Co-operative |
| B. | Partnership |
| C. | Corporation |
| D. | None |
| Answer» D. None | |