Agricultural Economics Multiple Choice Questions and Answers (MCQS): Agriculture Entrance Exam

Agriculture Economics Multiple Choice Questions: Agriculture Economics is a subject as well as major or minor minor faculty in a n agriculture university. It is the study of agriculture product’s, services and their marketing.

Agriculture Economics Multiple Choice Questions are asked in different agricultural competitive exams. These questions are important in agricultural competitive exams e.g., JRF, SRF, CET, BHU, NET, ICAR, RHEO, RAEO, SHDO, SADO, ADH ADA etc.

INDEX

S. NO.TITLE
PART 01Purchase Questions
PART 02Agricultural Economics Multiple Choice Questions and Answers (MCQS)

PART 01: Purchase Questions



Last Updated: 16-05-2021, 01:09 pm, IST

Questions Added: 24, from 27-50.


PART 02: Agricultural Economics MCQs

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Resemblance with any ‘Question Set’ from this Page may be due to – ‘The Common Words and Sentences are not the subject of Copy Right’.

All questions are prepared by the authors of the site.]


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Question- 01. TRIFED was established in the year 1987 for…?

(a). To develop marketing system for forest products.
(b). To develop marketing system for medicinal products.
(c). To develop marketing system for foreign products.
(d). To develop marketing system for non-agricultural products.

See Answer

Question- 02. Which is known as the sunk cost?

(a). Retrospective cost.
(b). Fixed cost.
(c). Flow cash.
(d). Fixed cash.

See Answer

Question- 03. Macro approach is a concept of…?

(a). Farm management.
(b). Production economics.
(c). Market surplus.
(d) All of the above.

See Answer

Question- 04. Land holding of marginal farmer is?

(a). Less tha 5 acre.
(b). More tha 5 acre.
(c). Less than 2.5 acre.
(b). More than 2.5 acre.

See Answer

Question- 05. The theory of absolute advantage was given by?

(a). Walker.
(b). Shane.
(c). Germy.
(d). Smith.

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Question- 06. Contribution of agriculture in India’s GDP in the year 2016 was?

(a). 12 – 13%.
(b). 16.9 – 17.9%.
(c). 14.8 – 15. 8%.
(d). 13 – 14%.

See Answer

Question 07. In economics cash is a..?

(a). Working capital.
(b). Fixed capital.
(c). Flowing in one direction
(d). Non of the above.

See Answer

Question 08. The theory of inflation was given by..?

(a). A. Walker.
(b). A. P. Lerner.
(c). S. M. . Marker.
(d). W. Stan.

See Answer

Question 09. Production Economics is a..?

(a). Micro approach.
(b). Macro approach.
(c). Both a and b.
(d). Non of the above.

See Answer

Question 10. Who is know as father of economics?

(a). J. M. Keynes.
(b). V. Anstey.
(c). F. Smith.
(d). Marshall.

See Answer

Question 11. Full form of GNP is..?

(a). Gross National Productivity.
(b). Gross National Product.
(c). Gross Nation Product.
(d). Growing National Product.

See Answer

Question 12. The planing commission was established in..?

(a). 1940.
(b). 1960.
(c). 1950.
(d). 1960.

See Answer

Question 13. The central agmark laboratory is situated at..?

(a). Pune.
(b). Nagpur.
(c). Mumbai.
(d). Goa.

See Answer

Question 14. Types of wages are..?

(a). Money.
(b). Real.
(c).  Both a and b.
(d). Non of the above.

See Answer

Question 15. Which is a type of wealth?

(a). Negative wealth.
(b). Cosmopolitan wealth.
(c). National wealth.
(d). All of the above.

See Answer

Question 16. Dumping activity is seen in..?

(a). Demonopolization.
(b). Monopoly.
(c). De facto standard.
(d). All of the above.

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Question 17. The major topic(s) in agricultural economics are..?

(a). Agricultural environment and natural resources
(b). Food and consumer economics.
(c). Production economics and farm management.
(d). All of the above.

See Answer

Question 18. A marginal farmer should have land between..?

(a). 1 – 1.5 acre.
(b). 1.5 – 2.5 acre.
(c). 5 – 7.5 acre.
(d). 2.5 – 5 acre.

See Answer

Question 19. Planning commission was established in..?

(a). 1950.
(b). 1960.
(c). 1955.
(d). 1965.

See Answer

Question 20. Operational holding refers to..?

(a). Net cultivated area by farmer.
(b). Total irrigated area.
(c). Total area under fencing.
(d). All of the above.

See Answer

Question 21. In mixed farming, gross income from livestock is..?

(a). 50%.
(b). 25%.
(c). 21%.
(d). None of the above.

See Answer

Question 22. Credit to farmers for land development projects is given in the form of..?

(a). Indirect finance.
(b). Direct finance.
(c). Both a and b.
(d). None of the above.

See Answer

Question 23. As the RBI Governor, how may days served (in office) by Dr. Manmohan Singh?

(a). 851.
(b). 651.
(c). 951.
(d). 551.

See Answer

Question 24. What is the full form of AIF?

(a). Agriculture Individual Fund.
(b). Agricultural Investment Fund.
(c). Agriculture Infrastructure Fund.
(d). Agriculture Interest Fund.

See Answer

Question 25. In 2019-20 the actual AIF was …. in crores?

(a). 00.00.
(b). 1,530.10.
(c). 1478.00.
(d). 650.35.

See Answer

Question 26. Truck Farming is a type of..?

(a). Intensive farming.
(b). Extensive farming.
(c). Both.
(d). None of the above.

See Answer

Question 27. When the resources are scare..?

(a). We can employ the principle of  equi-marginal.
(b). We can employ comparative advantage.
(c). Both a and b.
(d). None of the above.

See Answer

Question 28. The negative elasticity of production is..?

(a). Stage I of classical production function.
(b). Stage II of classical production function.
(c). Both a and b.
(d). Stage III of classical production function.

See Answer

Question 29. The Cost of Production is calculated as..?

(a). Per hectare.
(b). Per acre.
(c). Per decimal.
(d). All of the above.

See Answer

Question 30. MPP is..?

(a). Marginal Physical Product.
(b). It is Marginal Price Product.
(c). Marginal Post Price.
(d). None of the above.

See Answer

Question 31. Who proposed population theory?

(a). Adam Smith.
(b). Malthus.
(c). F. Nicholson.
(d). Mayer.

See Answer

Question 32. In economics, farm management is..?

(a). Management of farm.
(b). Management, production and marketing.
(c). Science of decision making.
(d). All of the above.

See Answer

Question 33. Full form of CACP is..?

(a). Commission of Agricultural Cost and Price.
(b). Commission of Agricultural Cost and Product.
(c). Commission of Agricultural Cost and Production.
(d). None of the above.

See Answer

Question 34. Inflation occurs due to..?

(a). Fall in price.
(b). Increase in investment.
(c). Both a and b.
(d). Fall in production.

See Answer

Question 35. Fixed cost is also known as..?

(a). Prime cost.
(b). Input cost.
(c). Both a and b.
(d). Overhead cost.

See Answer

Question 36. Which types of demand agri. products are..?

(a). Elastic.
(b). Unit inelastic.
(c). Inelastic.
(d). All of the above.

See Answer

Question 37. Level of optimum production is available in..?

(a). II stage of production.
(b). I stage of production.
(c). III stage of production.
(d). All of the above.

See Answer

Question 38. Why do we prepare calendar of operation?

(a). To manage farm enterprises.
(b). To calculate the cost of production.
(c). Both a and b.
(d). To prepare cropping scheme.

See Answer

Question 39. The state farms are managed by..?

(a). Contractors.
(b). Government.
(c). Government officinalis.
(d). Advanced farmers.

See Answer

Question 40. The farm management analysis can be done by using..?

(a). Farm calendar.
(b). Farm management.
(c). Farm input and output.
(d). Farm budget.

See Answer

Question 41. What is prime cost?

(a). Cost related to fixed resources.
(b). Cost related to variable resources.
(c). Both a and b.
(d). None of the above.

See Answer

Question 42. MPP in stage III of a variable product is..?

(a). Negative.
(b). Positive.
(c). Both a and b.
(d). Sometime positive.

See Answer

Question 43. In diminishing value method..?

(a). Depreciation of an asset is  measured by dividing the second cost by it’s estimated life.
(b). The depreciation of an asset is measured by dividing the first cost by it’s estimated life.
(c). Depreciation of an asset is not measured by dividing the first cost by it’s estimated life.
(d). None of the above.

See Answer

Question 44. When the price is equal to marginal cost of production..?

(a). Production should be continued for few more years.
(b). It should be continued for long term.
(c). Production should be discontinued.
(d). It should be discontinued for few years.

See Answer

Question 45. Who is price taker..?

(a). Customer.
(b). Farmer.
(c). Government.
(d). All of the above.

See Answer

Question 46. Storage is associated with..?

(a). Time utility.
(b). Space utility.
(c). Both a and b.
(d). None of the above.

See Answer

Question 47. What should be the objective of a subsistence farm..?

(a). Product for marketing.
(b). Food crops for family only.
(c). Essential food crops for neighbors.
(d). All of the above.

See Answer

Question 48. Farm budgets are used to/for..?

(a). Analyze profitability or unprofitability of farm practices.
(b). Analyzing profitability of factors.
(c). Both a and b.
(d). None of the above.

See Answer

Question 49. Which market actually ensures fair price..?

(a). Special market.
(b). Perfect market.
(c). Secular market.
(d). Regulate market.

See Answer

Question 50. Which is truly matched..?

(a). Agmark Act – Passed in 1946.
(b). NAFED – Established in 1964.
(c). FCI – Established in 1960.
(d). 1st bank in India – Established in 1806.

See Answer


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Last Updated: 07-07-2021


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