Agriculture - Mock Test 103

Question 1021

If substitution ratio is equal to price ratio than cost will be?

A) Minimum B) Increasing C) Maximum D) Decreasing

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Question 1022

If more is demanded at the same price, it is a case of?

A) Extension in demand B) Contraction in demand C) Increases in demand D) Decreases in demand

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Question 1023

If more and more capital and labour are applied to a fixed piece of land, the system of cultivation or farming is known as?

A) Intensive cultivation B) Extensive cultivation C) Co-operative farming D) Large scale farming

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Question 1024

If change in price is 1% and charge in demand is 1% demand will be called?

A) Elastic B) Proportionate elastic C) Inelastic D) None of the above

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Question 1025

If by increasing the quantity of labour used by one unit the firm can substitute up to units of capital and still produce the same output, then the marginal rate of technical substitution of labour for capital is?

A) 1?2 B) 2 C) 1 D) 0

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Question 1026

If a per cent change in the price of a commodity is followed by a 10 percent change in the quanity demanded, the elasticity of demand of that commondity is?

A) 0.2 B) 1 C) 0.5 D) 5

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Question 1027

Monopsony implies the existence of a ?

A) Single buyer B) Single seller C) Single seller vs Single buyer D) All of the above

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Question 1028

Human wants are generally?

A) Static B) Recurring C) Non-recurring D) Limited

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Question 1029

How the field of farm management is broader?

A) It tests the applicability of facts and findings B) It is interested in profitability C) It gets information from more than one discipline D) None of the above

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Question 1030

How much percent of total cost of production goes to labour investment?

A) 25-30% B) 46-50% C) 40-45% D) 15-20%

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