Agricultural economics – MCQs

236 questions. Click to practice.

Correct options are highlighted when revealed.

1.What does the point where the supply and demand curves intersect represent?

2.Which of the following factors influence the supply of a product?

3.Which principle states that, all else being equal, an increase in price leads to an increase in quantity supplied, and a decrease in price results in a reduction in quantity supplied?

4.What causes a demand curve to shift in the market?

5.Which market structure do monopoly and oligopoly represent?

6.Which index is used to assess deprivation related to fundamental aspects of human development within a nation?

7.Which term refers to investments made in people that enhance their productive capabilities?

8.What term describes the income that a household or business receives as goods or services rather than money?

9.What term describes the intentional strategy of reducing reliance on key imported consumer goods by encouraging the growth and development of local industries such as textiles and footwear?

10.What is the name of the discount rate that sets a project's net present value (NPV) to zero and is used to compare projects against prevailing market interest rates?

11.What is the term used to describe the cost incurred for utilizing borrowed money?

12.Which type of loan typically involves borrowing from sources outside the formal banking sector, such as loans from relatives or friends?

13.What term refers to the combined amount of currency circulating in the economy along with demand deposits in commercial banks and occasionally savings bank time deposits?

14.What term describes all cross-border transfers of goods between countries involved in international commerce?

15.What term describes an obstacle that prevents achieving a specific goal within a designated timeframe?

16.What term describes the percentage of school-age children who fail to finish a specific level of schooling?

17.What term describes a scenario where government involvement in the economy leads to poorer results?

18.What term describes natural resources like oceans and the atmosphere that are accessible to all nations worldwide?

19.What term describes the annual number of live births per 1,000 women of reproductive age?

20.What term describes the slow decrease in the value of one currency relative to another due to the influence of supply and demand in the market?