NOUN eExams Past Questions & Answers: ARD251 - Introduction To Agricultural Economics

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Jed
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NOUN eExams Past Questions & Answers: ARD251 - Introduction To Agricultural Economics

NOUN eExams Past Questions & Answers: ARD251 - Introduction To Agricultural Economics

Email: Solutions2tma@gmail.com
Whatsapp: 08155572788

FBQ1: The rate at which output is increased by each additional increase in input possibilities is called ___.

FBQ2: ___ type of marginal returns is experienced in agricultural production.

FBQ3: ___ function is a technical relationship between input and output.

FBQ4: Average and marginal products are examples of ____.

FBQ5: ____ describes the transformation of a given input into a product.

FBQ6: ____ function describes the form of association between input involved in production and the product produced.

FBQ7: Stage ____ of production function is average product greater than marginal product.

FBQ8: Stage ____ of production function is of economic relevance in production.

FBQ9: ____ is the curve of all combinations of X 1 - X 2 that yields specified output levels.

FBQ10: The relationship whereby two variable inputs are used in the production of one output is referred to as ____.

FBQ11: The rate at which inputs substitutes for each other to maintain constant output is known as ____.
Answer: *Marginal rate of input substitution*

FBQ12: The line which connects points of equal slope on a production surface is known as ____

FBQ13: ____ are either convex to the origin or slopes from left to right.

FBQ14: The line joining points of least cost combination of inputs on the production surface is referred to as ____.

FBQ15: The line which connects points of zero slopes on successively higher isoquants is known as ____.

FBQ16: ____ Substitutes increase in one input causing a decrease in the other input at a constant output level.

FBQ17: ____ is the type of product that require the same set of inputs and one product can be expanded by diverting inputs to its production and thus reduce the quantity of inputs to the other.

FBQ18: ____ relationship involves the substitution of one input for another to achieve a constant level of output.

FBQ19: The curve of all combinations of two inputs that cost the same amount is known as ____.

FBQ20: ____ cost is the cost of producing an additional unit of output.

FBQ21: ____function is a mathematical relationship between the total cost of production and the output produced.

FBQ22: ____ refers to any group of transactions or business dealings between buyers and sellers

FBQ23: Non homogenous commodity, entry and exit of buyers are features of ____.

FBQ24: Feeds, seeds and fertilizers are examples of ____ costs.

FBQ25: Salaries of staff and expenses of maintenance are examples of ____ costs.

FBQ26: Perishability of agricultural produce is caused by inadequate ____.

FBQ27: The activity involved in the transfer of title goods is called ________________ function.

FBQ28: Storage, transportation and processing are examples of ____ function.

FBQ29: Economic theory is also known as profitability and ____.

FBQ30: The economic concept that cannot satisfy human needs is called ____.

FBQ31: The cultural behaviour of any consumer is referred to as ____.

FBQ32: Farms and factories can be regarded as ____ producing units.

FBQ33: ____ is measured in terms of the adult male equivalents as in man days.

FBQ34: Linear, quadratic and power are examples of ___.

FBQ35: ____ demand is a function of price and time.

Email: Solutions2tma@gmail.com
Whatsapp: 08155572788

Jed
Posts: 1436
Joined: Tue Oct 10, 2017 6:37 pm
Contact:

Re: NOUN eExams Past Questions & Answers: ARD251 - Introduction To Agricultural Economics

Email: Solutions2tma@gmail.com
Whatsapp: 08155572788

Multiple Choice Questions (MCQs):
MCQ1: The Process of bargaining on the price of the commodity between a few sellers and a few buyers is referred to as ________.

MCQ2: ________ is determined by the interplay of the forces of demand and supply.

MCQ3: Supply depends on ruling price and ________

MCQ4: ________ is the summation of individuals supply.

MCQ5: ________ is important in economic analysis.

MCQ6: Jewelleries, cars and clothes are examples of _____

MCQ7: Prices and costs are examples of -----------

MCQ8: Agricultural economics studies these aspects except;

MCQ9: What economic concept is central to the behaviour of every consumer?

MCQ10: What is a desire backed up with the ability to pay for the good or service in question?

MCQ11: What economic concept is a function of time and price?

MCQ12: The summation of individual demand schedules is known as--------------

MCQ13: _______ involves the application of scientific and technical principles to the solution of day problems facing farmers on farms.

MCQ14: Price of a commodity and substitutes are factors of influencing -----------

MCQ 15: Quantity demanded of a commodity is directly related to the prices of its __________

MCQ16: Demand shifters shift the demand curve ________

MCQ17: What is the study of how resources are used to satisfy the needs and desired of people?

MCQ18: The variable that cannot satisfy all the alternatives use is known as ---------------

MCQ19: Scarcity and ----------- are the major constituents of economic problems.

MCQ20: What concept is concerned with resource allocation in the agricultural industry?.

MCQ21: The application of economic principles to the operations of the agricultural industry is known as what?

MCQ22: What are the real costs of items chosen on a scale of preference?

MCQ23: What are the wishes which people only dream to have called?

MCQ24: Profitability and efficiency are also known as ----------

MCQ25: What concept explains the movements along the demand curve?

MCQ26: The schedules of amounts of any commodity which a seller would bring to the market are referred to as what?

MCQ27: When elasticity of supply is zero, the situation is referred to as what?

MCQ28: Leisure and working overtime are examples of which type of supply?

MCQ29: The slope of the supply curve is always _____________

MCQ30: Price and cost of production are examples of factors influencing ______ of a community.

MCQ31: Improvement in technological change would lead to increase in _____________

MCQ32: Favourable climatic factor is a variable influencing ________

MCQ33: ________ comes into the market over period of time at a particular price.

MCQ34: The supply curve shifts to _______ when there is an increase in cost of production.

MCQ35: ______ is the elasticity measurement of the changes in both quantity and factors of interest are larges.