Agriculture Economics Oneliner For Competitive Exam

1. The profit earned by a Monopoly AG is called as? *Innovation profit*

2. Production in traditional agriculture does not respond to ? *Price changes*

3. Ratio between nominal GNP and real GNP is called ? *GNP Deflator*

4. The distinction between fixed and variable costs exists only in ? *Short run*

5. Indian Army is an example of ? *National wealth*

6. When the demand for the product is less elastic inelastic the consumers surplus is ? *High*

7. In the marginal utility schedule initial utility become ? *First unit*

8. When total product is increasing marginal product will be ? *Positive*

9. The more we have a think the desire for additional units will be ? *less*

10. The demand for milk sugar and tea is a case of ? *Joint demand*

11. The increase in quantity supplied for a commodity due to rice in price of the commodity it is called ? *Extension of supply*

12. The supply of land is perfectly ? *Limited*

13. When a great change in price of a commodity leads to no change in quantity supplied it is called ? *Perfectly inelastic supply*

14. The various quantities of goods purchased by the consumer at various levels of income is referred to as ? *Income demand*

15. The excess of income over consumption is called ? *Saving*

16. Capital is an instrument of production I.e. *Man made*

17. The line indicating all possible combinations of two communities purchased with a given outlay of funds is called ? *Price line*

18. The level of indifference curve from the origin depends upon the level of ? *Satisfaction*

19. Quantity demand of a good which will be changed with reference to change in price of related goods are ? *Cross demand*

20. The point of maximum satisfaction in consuming two communities is when the slope of indifference curve is tangent to the slope of ? *Price line*

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