Q.1. In pesant farming the owner of the land is:
A. Land lord
B. Co-operative society
C. Government
D. Farmer✅✅
Q.2. Maximum profit will be at the point where:
A. M.C. = M.R. ✅✅
B. M.C. is more than M.R.
C. M.C. is less than M.R.
D. None of the above
Q.3. Which of the following definitions of economics includes the economic concept of ‘Scales of Preferences’?
A. Wealth’ Definition
B. Welfare’ Definition
C. Scarcity’ Definition ✅✅
D. Isolation’ Definition
Q.4. The term oligopoly means:
A. There is two or more buyer
B. There is two or more seller of a commodity✅
C. There is single seller of a commodity
D. None of the above
Q.5. The demand for wheat is:
A. Perfectly elastic
B. High inelastic
C. Very elastic
D. Less elastic✅
Q.6. Who was the first economist to have propounded the theory of rent?
A. Joan Robinson
B. R.G.D. Allen
C. Edward Chamberlain
D. Alfred Marshall✅✅
Q.7. The cost which is varying with the output is called:
A. Average variable cost
B. Average fixed cost
C. Variable cost✅✅
D. Fixed cost
Q.8. Marshall defines economics as:
A. The study of mankind in the ordinary business of life✅✅
B. The study of human behaviour as a relationship between ends and scarce means, which have alternative uses
C. An enquiry into the nature and causes of the wealth of nation
D. Fundamentally a science of scarcity
Q.9. Market demand curve is faced by:
A. Monopolist
B. Competitive firm✅✅
C. Joint firm
D. Oligopolic firm
Q.10.Which of the following is not a factor-affecting rate of market development?
A. Nature of demand
B. Nature of product
C. Transportation of communication
D. Disturbance and un-security✅✅
Q.11. A boom is marked by:
A. Full employment
B. Under employment
C. Overfull employment ✅✅
D. None of the above
Q.12. In economics the term ‘labour’ means:
A. Only manual labour
B. Only mental work
C. Manual and mental work✅✅
D. None of these
Q.13. In a manufacturing industry generally applies law of:
A. Constant return✅✅
B. Increasing return
C. Decreasing return
D. All of the above
Q.14. Who propounded the theory of optimum population first?
A. Sidgwick✅✅
B. Malthus
C. Carr-Saunders
D. Kuczyansky
Q.15. Means to satisfy human wants are:
A. Unlimited ✅✅
B. Limited
C. Both (a) and (b)
D. None of the above
Q.16.Marginal utility of a commodity is the utility derived from the purchase of:
A. The first unit
B. All the units
C. Any extra unit ✅✅
D. The last but one unit
Q.17. The most common method exist in regulated markets is:
A. Close tender system
B. Open auction system✅✅
C. Dara sale
D. Moghum sale
Q.18. The Money paid for the use of money borrowed is nothing but:
A. Profit
B. Rent
C. Premium
D. Interest✅✅
Q.19. Sufficient condition of farm efficiency is generally referred to as choice indicator becaue it:
A. Is a valid criterion of the assumption of certainty
B. Is consistent with the choices made under perfect competition
C. Is consistent with the welfare increase to the farming population
D. Helps to make allocation compatible with the given objectives✅✅
Q.20. Beef’ and ‘hides’ are examples of:
A. Independent enterprise
B. Joint enterprise✅✅
C. Supplementary enterprise
D. Competitive enterprise
Q.21. “Rent is the price paid for the use of land” who said it?
A. Ricardo ✅✅
B. Carber
C. Keynes
D. None of above
Q.22. Farm management is a practical science because of:
A. It is interested in profitability
B. It is integrating facts and findings of other sciences
C. It deals with facts of other physical sciences and testing the applicability of those facts and findings ✅✅
D. All of these
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