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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