Agricultural Economics One Liner For Agri exam -2

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Agricultural Economics One Liner

Agricultural Economics One Liner

Quest.The full form of NABARD

Ans.National Bank for Agricultural and Rural Development

Quest.14 commercial banks were nationalization on

Ans.19th July, 1969

Quest.Income Tax is an example of

Ans.Direct tax

Quest.The tax which is levied on goods or services produced or purchased.

Ans.Indirect tax

Quest.A multistage sales tax with credit for taxes paid on business purchases.

Ans.VAT (Agricultural Economics One Liner)

Quest.A farmer having an area of <1 ha

Ans.Marginal farmer

Quest.The operational land holding of small farmers

Ans.1-2 ha

Quest.The land holding of large farmers

Ans.> 10 ha

Quest.On which basis, CACP fixed minimum prices of crops

Ans.Cost of production

Quest.A science of decision making

Ans.Farm Management (Agricultural Economics One Liner)

Quest.Production function is also known as

Ans.Input Output relation

Quest.Transformation of physical inputs into physical outputs is termed as

Ans.Production

Quest.Cost calculated per hectare is known as

Ans.Cost of Production (COC)

Quest.The most important unit of farm management

Ans.Production unit

Quest.The basis of Cobb – Douglas Production function is

Ans.Constant elasticity of substitution (Agricultural Economics One Liner)

Quest.When MPPX > APPX; then APPX is

Ans.Increasing

Quest.Under perfect competition market, maximum profit is obtained when

Ans.Marginal Return = Marginal Cost

Quest.Optimum profit will be obtained at a point where

Ans.MC = MP

Quest.When the demand and price are equal, called as

Ans.Equilibrium price

Quest.The principle applied for production function “How much to produce”

Ans.Principal of diminishing returns/costs (Agricultural Economics One Liner)

Quest.The principle applied for “How to produce”

Ans.Principal of least cost combination

Quest.The principle applied for “What to produce”

Ans.Principal of opportunity cost/Equimarginal returns

Quest.Optimum level of input use without resource limitation

Ans.Law of diminishing return

Quest.Basic fundamental law of agriculture is

Ans.Law of diminishing return

Quest.Choose best crop enterprises

Ans.Principal of opportunity cost (Agricultural Economics One Liner)

Quest.When total Assets are divided by total liabilities, called as

Ans.Net Capital Ratio (NCR)

Quest.When MP = 0, then EP = 0 is called

Ans.Completely inelastic demand

Quest.When MP > AP then EP> 1 is called

Ans.Elastic demand

Quest.When MP = AP, then EP = 1

Ans.Unit inelastic demand

Quest.Demand of Agri. Products are always comes under

Ans.Unit inelastic demand (Agricultural Economics One Liner)

Quest.Inflexion point is found on

Ans.Irrational zone (Stage – I)

Quest.The zone at which TP increases but at decreasing rate

Ans.Rational zone (Stage – II)

Quest.EP is always less than zero in

Ans.Irrational zone (Stage – III)

Quest.Price Ratio is equal to

Ans.Cost per unit of added resource

Quest.Present value of future investment is calculated by

Ans.Discounting (Agricultural Economics One Liner)

Quest.A line represents the different combinations of two variable inputs used in the production of a given amount of output.

Ans.Isoquant

Quest.Isoquant is used in

Ans.F – F relationship

Quest.A line indicates all possible combinations of two inputs which can be purchased with a given amount of investment fund

Ans.Iso-Cost line

Quest.The line join the end points of Isoquants

Ans.Ridge line

Quest.The line by which all the least cost combination points are joined to each other

Ans.Expansion Path

Quest.Two or more products when produced in the same production process called

Ans.Joint product

(Agricultural Economics One Liner)

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