1) A consumer spends his income according to the law of:
a) Diminishing marginal utility
b) Increasing cost
c) Equi-marginal utility
d) Least cost
2) A crop loan over Rs. 1,00,000 will require
a) Equitable mortage
c) Personal security
b) Registered mortage of land
d) None of these
3) A farmer having less than one hectare of irrigated land, is known as:
a) Small farmers
c) Big farmers
b) Marginal farmers
d) None of these
4) A group of technical units are known as:
a) Farm firm
c) Economic unit
b) Plant
d) All above
5) A market structure with large number of firms selling homogeneous products is known as
a) Monopoly market
c) Perfect competition
b) Monopolistic competition
d) None of these
6) A holding which allow to a man a chance of producing sufficient to support himself and his family in resonable comfort after paying his necessary expenses is called
a) Basic holding
c) Operational holding
b) Optimum holding
d) Economic holding
7) A market in which the purchase and sale is a commodity takes place al time 't' but the exchange of the commodity takes after 't+1' time, the market is known as
a) Spot
c) Forward market
b) Cash market
d) General market
8) A statement which shows the financial condition and stability of the business at a particular point of time is known as
a) Net worth statement
b) Business statement
c) Physical efficiency measures
d) None of the above
9) _____________ is an application of the accounting principles to the business of farming.
a) Farm planning
b) Farm budgeting
c) Farm accounting
d) Marketing
10) 'Beef' and 'hides' are examples of:
a) Independent enterprise
b) Joint enterprise
c) Supplementary enterprise
d) Competative enterprise
11) 'Indian Farming' is published by:
a) Ministry of Agriculture Government of India
b) ICAR
c) National Seed Corporation of India
d) None of these
12) "Rent is the price paid for the use of land" who said it?
a) Ricardo
b) Carver
c) Keynes
d) None of these
13) "Under free and perfect competition there could not be any involuntary unemployment amongest wage earners in the labour market." This theory was established by:
a) Prof. J.B. Say
b) Prof. Pigou
c) Prof. Keynes
d) None of these
14) Per capita land available in India
a) 1/3ha
b) 1/6 ha
c) 1/4 ha
d) 1/7 ha
15) Average fixed cost is equal to:
a) Total fixed cost/100
b) Total fixed cost/total variable cost
c) Total fixed cost/output
d) Total fixed cost/input
16) Basic fundamental law of agriculture is:
a) Law of diminishing return
b) Law of equimarginal return
c) Law of substitution
d) Law of demand and supply
17) Who was the first economist to have evolved the technique of Indifference Curve Analysis?
a) David Ricardo
b) Bohm Bawerk
c) F. Y. Edgeworth
d) C. Pigou
18) Break-even point is determined by
a) MC-MR
b) MC-AVC
c) MC-AC-AR
d) TR-TC
19) Building, machinery and implements are examples of:
a) Variable resources
b) Fixed resources
c) Flow resources
d) None of the above
20) By preparing chairs the wood creates:
a) Form utility
b) Time utility
c) Place utility
d) Knowledge utility
21) Capital market deals with
a) Cotton
b) Wheat
c) Raw material
d) Bonds & Shares
22) Central cooperative bank operates normally at
a) District level
b) Village level
c) National level
d) None of these
23) Central government finance the RRB's the extent of
a) 35%
b) 17%
c) 50%
d) 40%
24) Chairman of Planning Commission is
a) Prime Minister
b) President
c) Appointed by Prime Minister
d) Appointed by President
25) A table is a
a) Material good
b) Non-material good
c) Free good
d) None of the above
26) About 70% farmers have less than hactare of land in India:
a) 5
b) 2
c) 4
d) 1
27) Absence of interaction between resources and activities in the process of production is called
a) Linearity
b) Non-linearity
c) Quasi-non-linearity
d) Quasi-linearity
28) According to the Directorate of marketing and Inspection per cent may be taken as the average marketing margin for all surplus food grains in India.
a) 15
b) 20
c) 25
d) 35
29) Agricultural Development Banks are sponsored by
a) Reserve Bank of India
b) State Bank of India
c) Nationalized Banks
d) Co-operative Banks
30) Agricultural price commission was established in
a) 1964
b) 1975
c) 1965
d) 1967
31) Air is
a) Economic goods
b) Free goods
c) Transferable goods
d) All above
32) Agricultural Refinance and Development Corporation (ARDC) was set up in
a) 1963
c) 1952
b) 1975
d) 1967
33) As income increase the expenditure on light, fuel and rent generally
a) Increases
b) Decreases
c) Remains the same
d) None of the above
34) At present, the farming system of India has become
a) Export oriented
b) Technology oriented
c) Market oriented
d) Domestic need oriented
35) Common Area Development Programme (CADP) was started in:
a) 1974
b) 1962
c) 1976
d) 1979
36) Commodity market deals with:
a) Bonds
b) Shares
c) Wheat
d) None of these
37) Co-operative farming, Collective farming, Capitalistic farming, State farming, and Peasant farming are:
a) Types of farming
b) Systems of farming
c) Both these
d) None of these
38) Co-operatives for tribes are called as:
a) Camp co-operative societies
b) Multi-purpose societies
c) Lead Bank
d) Savita
39) Creation of utility by way of marketing is known as:
a) Consumption
b) Production
c) Distribution
d) Exchange
40) Crop farming & milk production is an example of:
a) Competitive enterprise
b) Complementary enterprise
c) Supplementary enterprise
d) None of them
41) Dairy farming, poultry farming, crop farming, and pig farming are:
a) Type of farming
b) Systems of farming
c) Both a & b
d) None of them
42) Decrease in demand means:
a) Demand change due to change in price
b) Demand changes not due to the change in price but due to income
c) Both a & b
d) None of these
43) Demand for necessary goods is:
a) Elastic
b) Inelastic
c) Perfectly elastic
d) None of the above
44) The marginal productivity theory is based on the assumption of
a) Imperfect competition
b) Monopolistic competition
c) Perfect competition
d) Elastic competition
45) Economic laws are not ascertain as
a) Physical law
b) Moral law
c) Government law
d) All above
46) Economics is a :
a) Social science
b) Political science
c) Natural science
d) None of these
47) Economics is a
a) Art
b) Science
c) Art & science
d) None of these
48) Economy of an developing country is marked by
a) Predominance of agriculture
b) Predominance of industry
c) Predominance of transportation
d) None of them
49) Enterprise budgeting deals with input-output relationship of
a) A set of different enterprises
b) A single enterprises of the farm
c) Both of the above
d) None of the above
50) Expenditure on fertilizers is called
a) Fixed cost
c) Marginal cost
b) Variable cost
d) Total cost
51) Export-Import Bank of India was set up of 1st January
a) 1980
b) 1982
c) 1981
d) 1983
52) Extent of land under forest in India is
a) 21%
c) 27%
b) 20%
d) 16%
53) Farm credit may be defined as lending
a) For the development of land & labour
b) For more yield
c) For the development of Agriculture
d) For the development of forestry, poultry, piggery etc.
54) Farm management deals with
a) Judicious decision
b) Use of scare resources
c) Profit maximization & family satisfaction
d) All these
55) Farm planning involves
a) Preparing farm budget in advance
b) Selecting and adopting best package of practices
c) Both of these
d) None of these
56) First land Mortagage Bank was set up in Madras in the year
a) 1929
b) 1951
c) 1934
d) 1921
57) Food Corporation of India (FCI) was established in January:
a) 1963
b) 1966
c) 1964
d) 1965
58) For purchasing of seeds, fertilizers etc., the loan distributed is called:
a) Short term loan
c) Medium term loan
b) Long term loan
d) All of the above
59) Gross return plus charge in inventory minus total cost is equal to
a) Farm income
b) Family income
c) Tax
d) None of the above
60) Oligopoly is a market situation which is characterized by the existence of
a) One firm
b) Two firms
c) Several firms
d) Few firms
61) How many plots of one hectare area can be farmed from one square km area?
a) 10
b) 50
c) 100
d) 1000
62) How much farmers have land holding more than 10 hectares?
a) 15%
b) 8%
c) 10%
d) 4%
63) Human wants are generally
a) Static
b) Recurring
c) Non-recurring
d) Limited
64) If change in price is 1% and change in demand is 1% demand will be called
a) Elastic
b) Praportionate elastic
c) Inelastic
d) None of the above
65) If more and more capital and labour are applied to a fixed piece of land, the system of cultivation or farming is known as
a) Intensive cultivation
b) Extensive cultivation
c) Co-operative farming
d) Large scale farming
66) If substitution ratio is equal to price ratio then cost will be
a) Minimum
c) Maximum
b) Increasing
d) Decreasing
67) If the income elasticity of demand is greater than one, the commodity is
a) A necessity
b) A luxury
c) An inferior good
d) A essentiality
68) In classical production function, rational zone is always
a) First zone
b) Second zone
c) Third zone
d) None of the above
69) In a market situation, when there is only one seller of a commodity, it is
a) Duopoly Market
b) Oligopoly Market
c) Monopoly Market
d) None of the above
70) In a manufacturing industry generally applies law of
a) Constant return
b) Increasing return
c) Decreasing return
d) All of the above
71) If two items are supplementry then demand of one item will decreas against the in price of another item
a) Increase
c) Decrease
b) Maximum
d) Minimum
72) Marshall defines economics as
a) The study of mankind in the ordinary business of life
b) The study of human behavior as a relationship between end and scarce means which have alternative uses
c) An enquiry into the nature and causes of the wealth of nations
d) Fundamentally a science of scarcity
73) Means to satisfy human wants are
a) Unlimited
b) Limited
c) Both a & b
d) None of the above
74) NABARD Act was passed in
a) January
b) February
c) March
d) April
75) NABARD came into existence on July 12,
a) 1980
b) 1981
c) 1982
d) 1983
76) Name the market in which permanent or durable commodities are traded?
a) Long period market
b) Short period market
c) Secular market
d) Bullion market
77) Net capital ratio is equal to:
a) Total assets/Total liabilities
b) Total liabilities/Total assets
c) Total assets/Current liabilities
d) None of the above
78) Net return per hectare is:
a) Over all efficiency measure
b) Partial efficiency measure
c) Specific efficiency measure
d) None of the above
79) Optimizing the use of farm resources on an individual farm level. It is a:
a) Farm management
b) Production Economics
c) Agricultural marketing
d) Macro economics
80) Payment made to labour for its assistance to production, is called:
a) Rent
b) Wage
c) Interest
d) None of the above
81) Per Quintal calculated cost is known as:
a) Cost of cultivation
b) Cost of production
c) Cost of farming
d) None of the above
82) If two items are complementry then demand of one item will increase for in price of another item
a) Increase
b) Decrease
c) No effect
d) Not known
83) If the quantity of commodity demand remains unchanged as its price changes, the coefficient of price elasticity of demand is
a) Greater than one
b) Zero
c) Smaller than one
d) Equal to one
84) If the quantity of a commodity the demand curve is demanded does not change when its price.
a) Negatively sloped
b) Positively sloped
c) Verticaly sloped
d) None of these
85) In law of supply the relationship between price and quantity supplied is
a) Direct
b) Indirect
c) Both a and b
d) None of the above
86) Who wrote the book, "The Theory of Monopolistic Competition?
a) Joan Robinson
b) E. H. Chamberlin
c) A.C. Pigou
d) Frederic Benham
87) In perfect competition, there are
a) Large no of buyers & few no of sellers in the market
b) Large no sellers & few no of buyers in the market
c) Number of buyers & sellers are large and nearly equal
d) All of above
88) 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
89) In which planning period profit rule says that gross return should cover variable cost
a) Long run
b) Short run
c) Both a & b
d) None of the above
90) A boom is marked by
a) Full employment
b) Under employment
c) Overfull employment
d) None of the above
91) Income tax is a
a) Direct tax
b) Indirect tax
c) Both a & b
d) None of these
92) Land Development Banks are parts of
a) Co-operative Banks
b) Nationalized Banks
c) Agricultural Development Bank
d) Regional Rural Banks
93) Level of output of a particular commodity depends upon the quantities of inputs used for its production. This relationship is known as
a) Production process
c) Production function
b) Product mix
d) Cost function
94) Long term loans is given for the period of
a) More than 5 years
b) 2 to 5 years
c) 4 years
d) All of the above
95) Man's wants are
a) Limited
b) Unlimited
c) Countable
d) Scarce
96) Major 14 banks were nationalized in the year
a) 1970
b) 1969
c) 1975
d) 1973
97) Marginal cost is equal to
a) Change in total cost /change in output
b) Change in total cost + 100
c) Average fixed cost
d) None of the above
98) Marginal farmers are those farmers having land holding:
a) Less than 5 acres
b) Less than 2 acres
c) Less than 1 acre
d) All of those
99) Market demand curve is faced by
a) Monopolist
b) Competitive firm
c) Joint firm
d) Oligopoly firm
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