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Agricultural Economics Questions And Answers.

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Exercise :: Agricultural Economics
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
3.All the goods and services produced in a country in a year plus other sources of income for example foreign exchange earnings, foreign aid, foreign remittance, loans etc are called ?
A. GDP
B. NNp
C. NDP
D. GNP
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