This post Multiple Choice Questions on Agricultural Economics has been written for the students of agriculture for the preparation of various agricultural competition exams such as ICAR JRF, SRF, NET, JET, BHU, CET, SBI bank exams and all others agricultural entrance exams. These are multiple choice objective questions.
| Name | Agriculture Economics Multiple Choice Questions |
| Series | 01 |
| Type | MCQ Objective |
| Writer | Krishi Coaching |
| For | JRF, SRF, ARS, BHU, CET, NET, IBPS etc. |
Multiple Choice Questions on Agricultural Economics
Also read: Multiple Choice Questions on Agriculture
Answer after 5th question
Question 01. When was KCC introduced in India?
(a). In September 1998.
(b). In October 1998.
(c). In July 1998.
(d). In August 1998.
Question 02. By whom was KCC launched?
(a). NABARD.
(b). RBI.
(c). RRB.
(d). SBI.
Question 03. Who recommended KCC?
(a). S. N. Roy Committee.
(b). R. B. Gupta Committee.
(c). S. Desai Committee.
(d). R. G. Desai Committee.
Question 04. Which type of loans are provided through KCC?
(a). Term loans.
(b). Equity loan.
(c). Credit Card loan.
(d). Fixed loan.
Question 05. Kisan Credit Card (KCC) offers credit to the farmers.
(a). Cash credit.
(b). Term loan.
(c). Both a and b.
(d). None of the above.
Question 06. What is NABARD?
(a). An autonomous body.
(b). Fully owned by govt. of India.
(c). Private-public Sector.
(d). All of the above at the same time.
Question 07. Which is related to NABARAD?
(a). Revitalizing rural India through govt. support.
(b). Revitalizing rural India through rural-urban support.
(c). Revitalizing rural India through urban support.
(d). Revitalizing rural India through rural support.
Question 08. Who is the current chairman of NABARD?
(a). H. D. Patel.
(b). P. G. Desai.
(c). R. Ghosh.
(d). Govinda Rajulu Chintala.
Question 09. When was NABARD formed?
(a). August 12, 1982.
(b). July 12, 1982.
(c). September 12, 1982.
(d). October 12, 1982.
Question 10. NABARD was established on the recommendations of which committee?
(a). B. Sivaramman Committee.
(b). R. Ramanujan Committee.
(c). B. S. Rajaram Committee.
(d). S. Sivaramman Committee.
Question 11. Where is headquarter of NABARD situated?
(a). Delhi.
(b). Chennai.
(c). Bangalore.
(d). Mumbai.
Question 12. Which is a scheme of NABARD related to agriculture?
(a). Agriclinic.
(b). Agribusiness Centres Scheme.
(c). Both a and b.
(d). Non of the above.
Question 13. Which is not a scheme of NABARD related to agriculture?
(a). National Livestock Mission.
(b). New Agricultural Marketing Infrastructure.
(c). Capital Investment Subsidy Scheme for Commercial Production Units for organic/ biological Inputs.
(d). CSC Scheme.
Question 14. Where is the headquarter of AGMARK is located?
(a). Mumbai.
(b). Delhi.
(c). Faridabad.
(d). Udayapur.
Question 15. When was AGMARK in India legally enforced?
(a). 1937, the Agricultural Produce (Grading and Marking) Act.
(b). 1938, the horticulture Produce (Grading and Marking) Act
(c). 1937, the Agri-horti Produce (Grading and Marking) Act.
(d). 1938, The Agri-horti Produce (Grading and Marking) Act.
Question 16. When was AGMARK was amended?
(a). 1985.
(b). 1986.
(c). 1987.
(d). 1988.
Question 17. Which one of the following is the certifying agency for AGMARK?
(a). Directorate of Management and Inspection, Govt. of India.
(b). Directorate of Marketing and Instructions, Govt. of India.
(c). Directorate of Marketing and Inspection, Govt. of India.
(d). Ministry of Agriculture, Govt. of India.
Question 18. Who created the entire system and the name of AGMARK?
(a). Livingstone.
(b). Lemark.
(c). J. S. Chaddha.
(d). Johnston.
Question 19. Who was marketing advisory to the government of India from 1934 to 1941
(a). M. A. MacDonald.
(b). A. M. MacDonald.
(c). M. C. Donald.
(d). C. M. Donald.
Question 20. Location of central Agmark laboratory?
(a). Jaipur.
(b). Mumbai.
(c). Kolkata.
(d). Nagpur.
Question 21. There are total .. regional Agmark laboratories across the country?
(a). 09.
(b). 10.
(c). 11.
(d). 12.
Question 22. In which year was Theodore Schultz awarded with Nobel Prize in the field of Economics?
(a). 1779.
(b). 1879
(c). 1979.
(d). None of the above.
Question 23. Which one is not a certification mark in India for food products?
(a). FSSAI.
(b). FPO.
(c). AGMARK.
(d). India Organic.
Question 24. Who is known as the father of economics?
(a). John Maynard Keynes.
(b). Milton Friedman.
(c). John Pedro Sanchez.
(d). John Quiggin.
Question 25. When does the variable cost change?
(a). When the quality of the good or service that a business produces changes.
(b). As the quantity of the good or service that a business produces changes.
(c). Both a and b.
(d). None of the above.
Question 26. Variable costs are the sum of which of the following?
(a). Marginal cost.
(b). Fixed cost.
(c). Average cost.
(d). All of the above.
Question 27. The variable cost is a component of total cost, which one is another?
(a). Marginal cost.
(b). Fixed cost.
(c). Average cost.
(d). All of the above.
Question 28. By which name are Variable costs also known?
(a). Non unit costs.
(b). Unit costs.
(c). Unit-even costs.
(d). Unit-level costs?
Question 29. By which axis is the quantity of output measured in a case of fixed cost unit ?
(a). On the horizontal axis.
(b). On the vertical axis.
(c). On the cross axis.
(d). None of the above.
Question 30. Who was Keynes?
(a). English economist.
(b). American economist.
(c). Spanish economist.
(d). Australian economist.
Question 31. What is the full form of AGMARK?
(a). Agricultural Grading and Marketing.
(b). Agricultural Products Grading and Marketing.
(c). Agricultural Produce Grading and Marketing.
(d). Agricultural Marketing.
Question 32. Which of the following influences the level of variable cost?
(a). Only fixed cost.
(b). Only the duration of project.
(c). Only on uncertainty.
(d). All of the above.
Question 33. What was the fertilizer subsidy in India during 2017/18?
(a). 60,000.00.
(b). 70,000.00.
(c). 65,000.00.
(d). 75,000.00.
Question 34. Which one is the example of variable cost?
(a). Sales commissions
(b). Labor cost.
(c). Cost of raw materials.
(d). All of the above.
Question 35. Which is a type of wealth?
(a). Individual wealth.
(b). National wealth.
(c). Both a and b.
(d). Positive wealth.
Question 36. Where is dumping observed?
(a). Monopoly.
(b). Oligopoly.
(c). Duopoly.
(d). All of the above.
Question 37. Which has often been accused of dumping?
(a). The US Union.
(b). The UK Union.
(c). The European Union.
(d). The Indian Union.
Question 38. Fixed cost includes which one of the following?
(a). Taxes.
(b). Insurance.
(c). Depreciation on machinery.
(d). All of the above.
Question 39. What is the full form of CAP?
(a). Cost And Price.
(b). Common Agriculture Policy.
(c). Common Agricultural Policy.
(d). Cooperative Agricultural Policies.
Question 40. Which is true about agricultural subsidy in India?
1. Primarily consists of subsidies like irrigation, fertilizer, equipment, seed subsidy.
2. Subsidy on fertilizers is provided by the Central government.
3. Subsidy on fertilizers is provided by the State government.
4. Subsidy on water and irrigation is provided by the local State governments.
5. Subsidy on water and irrigation is provided by the Central governments
(a). 1, 2 and 4 are true.
(b). 1, 3 and 4 are true.
(c). 3, 4 and 5 are true.
(d). 2, 3 and 5 are true.
Question 41. Marginal cost is the change in the total cost.
(a). That arises when the quantity produced is incremented by one unit.
(b). That arises when the quantity produced is incremented by two units.
(c). That arises when the quantity produced is incremented by several units.
(d). None of the above.
Question 42. What happens when a fixed cost doesn’t change with the change in output?
(a). Marginal cost would be Minus.
(b). Marginal cost would be plus.
(c). Marginal cost would always be 0.
(d). All are possible.
Question 43. The average variable cost is the result of which of the following options?
(a). Total variable cost and fixed cost.
(b). Output and marginal cost.
(c). Marginal coat and total variable cost.
(d). Total variable cost and output.
Question 44. What is the formula of average variable cost?
(a). AVC = Output/Total variable cost.
(b). AVC = Total variable cost/Output.
(c). AVC = Total variable cost × Output.
(d). AVC= Total variable cost + Output.
Question 45. Which type of costs do not vary with production?
(a). Marginal costs.
(b). Variable costs.
(c). Fixed cost.
(d). All of the above.
Question 46. Which type of costs vary with production?
(a). Marginal costs.
(b). Fixed costs.
(c). Both a and b.
(d). Non of the above.
Question 47. On which point are marginal costs measured?
(a). Vertical axis.
(b). Horizontal axis.
(c). Cross axis.
(d). All of the above.
Question 48. On which point are marginal revenue measured on?
(a). Coss axis.
(b). Horizontal axis.
(c). Vertical axis.
(d). None of the above.
Question 49. In marginal cost, the quantity is measured on which axis?
(a). Corner to corner axis.
(b). Horizontal axis.
(c). Vertical axis.
(d). Without axis.
Question 50. Which type of demand is seen in wheat?
(a). Inelastic.
(b). Elastic.
(c). Both a and b.
(d). None of the above.
Post: Agricultural Economics Multiple Choice Questions
Last Updated: 26-12-2021