Agriculture - Mock Test 89

Question 881

The want satisfying power of commodity is called?

A) Demand B) Utility C) Consumption D) Production

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Question 882

The individuals granted broad powers by those who purchase are known as?

A) Brokers B) Speculated middleman C) Commission agents D) Whole sellers

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Question 883

The required for a resource to be completely transformed into a product is referred to?

A) Transformation period B) Production period C) Both 1⃣ and 2⃣ D) Planning period

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Question 884

The expenditure on ______ increases as income increases?

A) Necessaries B) Comforts C) Luxuries D) All of these

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Question 885

The demand for wheat is?

A) Perfectly elastic B) High inelastic C) Very elastic D) Less elastic

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Question 886

The demand for common salt is?

A) Perfectly elastic B) High inelastic C) Inelastic D) Both ( b ) and ( c )

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Question 887

The cost which is varying with the output is called?

A) Average variable cost B) Average fixed cost C) Variable cost D) Fixed cost

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Question 888

The cost which are not paid to others, are called?

A) Explicit cost B) Implicit cost C) Both 1⃣ and 2⃣ D) None of these

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Question 889

The cost of various operations from land preparation to threshing of the crop is known as?

A) Cost of cultivation B) Cost of farming C) Both 1⃣ and 2⃣ D) None of the above

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Question 890

The cost incurred by a firm in purchasing any factor of production is referred to as?

A) Explicit cost B) Implicit cost C) Variable cost D) None of these

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