Agricultural Economics - Study Mode

Show All Answers

[#1] The demand for wheat is

(A) Very elastic

(B) Perfectly elastic

(C) Less elastic

(D) Inelastic

Correct Answer

[#2] Snake in the tunnel system is followed in

(A) Australia

(B) SE Asia

(C) African nations

(D) European union

Correct Answer

(D) European union

[#3] Match the following columns Column I Column II a. IFCI 1. April 1988 b. ICICI 2. 1948 c. SEBI 3. 1955 d. SIDBI 4. 1990

(A) a-1, b-2, c-4, d-3

(B) a-3, b-4, c-2, d-1

(C) a-2, b-3, c-1, d-4

(D) a-4, b-3, c-2, d-1

Correct Answer

[#4] Match the following columns Column I Column II a. When Ep is equal to zero 1. Relative inelastic demand b. When Ep is equal to one 2. Elastic demand c. When Ep is greater than one 3. Unit elasticity d. When Ep is less than one 4. Completely inelastic demand

(A) a-4, b-3, c-2, d-1

(B) a-4, b-3, c-1, d-2

(C) a-3, b-4, c-4, d-1

(D) a-1, b-3, c-4, d-2

Correct Answer

(A) a-4, b-3, c-2, d-1

[#5] Which one of the following relationships will provide least cost combination of input use?

(A) $$frac{{Delta {{ ext{X}}_1}}}{{Delta {{ ext{X}}_2}}} = frac{{{ ext{P}}{{ ext{X}}_2}}}{{{ ext{P}}{{ ext{X}}_1}}}$$

(B) $$frac{{Delta {{ ext{X}}_1}}}{{Delta {{ ext{X}}_2}}} > frac{{{ ext{P}}{{ ext{X}}_2}}}{{{ ext{P}}{{ ext{X}}_1}}}$$

(C) $$frac{{Delta {{ ext{X}}_1}}}{{Delta {{ ext{X}}_2}}} < frac{{{ ext{P}}{{ ext{X}}_2}}}{{{ ext{P}}{{ ext{X}}_1}}}$$

(D) $$frac{{Delta {{ ext{X}}_1}}}{{Delta {{ ext{X}}_2}}} = frac{{{ ext{P}}{{ ext{X}}_1}}}{{{ ext{P}}{{ ext{X}}_2}}}$$

(E) $$frac{{vartriangle {{ ext{X}}_1}}}{{vartriangle {{ ext{X}}_2}}} = frac{{{ ext{P}}{{ ext{X}}_2}}}{{{ ext{P}}{{ ext{X}}_1}}}$$

(F) $$frac{{vartriangle {{ ext{X}}_1}}}{{vartriangle {{ ext{X}}_2}}} > frac{{{ ext{P}}{{ ext{X}}_2}}}{{{ ext{P}}{{ ext{X}}_1}}}$$

(G) $$frac{{vartriangle {{ ext{X}}_1}}}{{vartriangle {{ ext{X}}_2}}} < frac{{{ ext{P}}{{ ext{X}}_2}}}{{{ ext{P}}{{ ext{X}}_1}}}$$

(H) $$frac{{vartriangle {{ ext{X}}_1}}}{{vartriangle {{ ext{X}}_2}}} = frac{{{ ext{P}}{{ ext{X}}_1}}}{{{ ext{P}}{{ ext{X}}_2}}}$$

Correct Answer

(A) $$frac{{Delta {{ ext{X}}_1}}}{{Delta {{ ext{X}}_2}}} = frac{{{ ext{P}}{{ ext{X}}_2}}}{{{ ext{P}}{{ ext{X}}_1}}}$$
(E) $$frac{{vartriangle {{ ext{X}}_1}}}{{vartriangle {{ ext{X}}_2}}} = frac{{{ ext{P}}{{ ext{X}}_2}}}{{{ ext{P}}{{ ext{X}}_1}}}$$