AGRICULTURE

1. ______ an application of the accounting principles to the business of farming:
A. Farm planning
B. Farm budgeting
C. Farm accounting
D. Marketing
Answer: C

2. Beef’ and ‘hides’ are examples of:
A. Independent enterprise
B. Joint enterprise
C. Supplementary enterprise
D. Competitive enterprise
Answer: B

3. Which of the following is not correctly matched?
A. App rises continuously till APP and MPP is both equal.
B. MPP rises continuously – Till MPP is more than APP
C. TPP rises continuously – Till MPP is not equal to Zero
D. APP & MPP both fall but TPP rises. When MPP is less than APP but more than zero
Answer: C

4. “Rent is the price paid for the use of land” who said it?
A. Ricardo
B. Carber
C. Keynes
D. None of above
Answer: A

5. “Under free and prefect competition there could not be any involuntary unemployment amongst wage earners in the
labour market”. This theory was established by:
A. Prof. J.
B. Say
B. Prof. Pigou
C. Prof. Keynes
D. None of above
Answer: B

6. Which one of the following pairs is not correctly matched?
A. Elasticity of production = Stage III of classical production function greater than unity

B. Negative marginal product = Stge III of classical production function
C. Negative elasticity of production = Stage III of classical production function
D. Average product decreases but is greater than marginal product = Stage II of classical production function
Answer: B

7. World Trade Organization (W.T.O.) was established in:
A. 1992
B. 1998
C. 1995
D. 1997
Answer: C

8. A consumer spends his income according to the law of:
A. Diminishing marginal utility
B. Increasing cost
C. Equi-marginal utility
D. Least cost
Answer: C

9. A crop loan over Rs. 1,00,000 will require:
A. Equitable mortagage
B. Registered mortgage of land
C. Personal security
D. None of these
Answer: B

10. A farmer having less than one hectare of irrigated the land, is known as:
A. Small farmers
B. Marginal farmers
C. Big farmers
D. None of the above
Answer: B

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