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Agricultural Economics-Data Intensity 1 Multiple Questions and Answers.
| 1. | “Economics is the study of causes of material welfare†was defined by___________________? | ||
| A. | Adam Smith | ||
| B. | Marshall | ||
| C. | Robins | ||
| D. | Marks | ||
| 2. | Total money income received by the individual or recipients of income is called______? | ||
| A. | Gross income | ||
| B. | Net income | ||
| C. | Personal income | ||
| D. | None of above | ||
| 4. | Power of a good/ service to satisfy human desire/want is called______? | ||
| A. | Utility | ||
| B. | Worth | ||
| C. | The point of satiety | ||
| D. | All of above | ||
| 5. | The sale of products below sale of production in a foreign country or below the prices charged at home is called ? | ||
| A. | Dumping | ||
| B. | Subsidy | ||
| C. | Inflation | ||
| D. | Monopoly | ||
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