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Agricultural Economics Important Questions

Agricultural Economics Questions, Agricultural Economics MCQs, Agricultural Economics Quiz for IBPS AFO. Most Important Agricultural Economics Quiz. Agricultural Economics Objective Questions for all agriculture competitive exams. Agricultural Economics Questions for IBPS AFO, ICAR JRF, RAEO, RHEO, ADO, AAO, AEO, RHEO, SADO, SHDO and more exams.

1. If the increase or decrease of one product increases or decreases the other product, the relationship between both products is known as:

(A) Complementary

(B) Supplementary

(C) Competitive

(D) Symbiotic

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2. Comprehensive Crop Insurance Scheme was launched in year:

(A) 1975

(B) 1985

(C) 1995

(D) 2002

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3. Opportunity Cost is also known as:

(A) Overhead Cost

(B) Prime Cost

(C) Alternative cost

(D) Sunk Cost

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4. At Optimum level of production or output, the Marginal Return should be:

(A) Positive

(B) Negative

(C) Zero

(D) Equal to average return

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5. The law that determine the best uses of limited resources among alternative uses

(A) Law of variable resources

(B) Law of equip-marginal return

(C) Law of demand

(D) Law of supply

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6. When demand changes due to increase in its own prices it is known as

(A) Expansion in demand

(B) Contraction in demand

(C) Increase in demand

(D) Decrease in demand

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7. Setting of price below that of competition is called

(A) Psychological pricing

(B) Price skimming

(C) Competitive pricing

(D) Penetration pricing

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8. Which holds good at Break Even Point?

(A) Total return = total cost

(B) Marginal return = marginal cost

(C) Marginal return > Marginal cost

(D) Total return > Total cost

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9. In marketing, place utility is created through

(A) Transport

(B) Grading

(C) Processing

(D) Insurance

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10. What is not a method of used in National Income Accounting?

(A) Output method

(B) Income method

(C) Expenditure method

(D) Export method

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