Agricultural Economics Multiple Choice Questions MCQ

Question 01. KCC was introduced in India..?

(a). In September 1998.
(b). In October 1998.
(c). In July 1998.
(d). In August 1998.
Question 02. KCC was launched by..?
(a). NABARD.
(b). RBI.
(c). RRB.
(d). SBI.
Question 03. KCC was prepared on the recommendation of..?
(a). S. N. Roy Committee.
(b). R. B. Gupta Committee.
(c). S. Desai Committee.
(d). R. G. Desai Committee.
Question 04. …. (loans) are provided through KCC?
(a). Term loans.
(b). Equity loan.
(c). Credit Card loan.
(d). Fixed loan.
Question 05. Kisan Credit Card (KCC) offers credit to the farmers by..?
(a). Cash credit.
(b). Term loan.
(c). Both a and b.
(d). None of the above.

Question 06. NABARD is..?

(a). An autonomous body.
(b). Fully owned by govt. of India.
(c). Private-public Sector.
(d). All of the above at the same time.
Question 07. Question missing…
(a). Revitalizing rural India through govt. support.
(b). Revitalizing rural India through rural-urban support.
(c). Revitalizing rural India through urban support.
(d). Revitalizing rural India through rural support.
Question 08. Current chairman of NABARD is..?
(a). H. D. Patel.
(b). P. G. Desai.
(c). R. Ghosh.
(d). Govinda Rajulu Chintala
Question 09. NABARD was formed in..?
(a). August 12, 1982.
(b). July 12, 1982.
(c). September 12, 1982.
(d). October 12, 1982.
Question 10. NABARD was established on the recommendations of..?
(a). B. Sivaramman Committee.
(b). R. Ramanujan Committee.
(c). B. S. Rajaram Committee.
(d). S. Sivaramman Committee.
Question 11. Headquarter of NABARD is situated..?
(a). Delhi.
(b). Chennai.
(c). Bangalore.
(d). Mumbai.

Question 12. Which is a scheme of NABARD related with agriculture?

(a). Agriclinic.
(b). Agribusiness Centres Scheme.
(c). Both a and b.
(d). None of the above.

Question 13. Which is not a scheme of NABARD related with

agriculture?
(a). National Livestock Mission.
(b). New Agricultural Marketing Infrastructure.
(c). Capital Investment Subsidy Scheme for Commercial Production
Units for organic/ biological Inputs.
(d). CSC Scheme.

Question 14. Office of AGMARK is located at/in.?

(a). Mumbai.
(b). Delhi.
(c). Faridabad.
(d). Udayapur.

Question 15. The AGMARK in India was legally enforced in .. by

..?
(a). 1937, the Agricultural Produce (Grading and Marking) Act.
(b). 1938, the horticulture Produce (Grading and Marking) Act (c). 1937,
the Agri-horti Produce (Grading and Marking) Act.
(d). 1938, The Agri-horti Produce (Grading and Marking) Act.

Question 16. The AGMARK was amended in..?

(a). 1985.
(b). 1986.
(c). 1987.
(d). 1988.

Question 17. The certifying agency for AGMARK is..?

(a). Directorate of Management and Inspection, Govt. of India.
(b). Directorate of Marketing and Instructions, Govt. of India.
(c). Directorate of Marketing and Inspection, Govt. of India.
(d). Ministry of Agriculture, Govt. of India.

Question 18. The entire system of and the name of AGMARK was
created by..?
(a). Livingstone.
(b). Lemark.
(c). J. S. Chaddha.
(d). Johnston.

Question 19. From 1934 to 1941 the marketing advisory to the

government of India was..?
(a). M. A. MacDonald.
(b). A. M. MacDonald.
(c). M. C. Donald.
(d). C. M. Donald.

Question 20. The Central Agmark Laboratory is located in..?

(a). Jaipur.
(b). Mumbai.
(c). Kolkata.
(d). Nagpur.

Agriculture Economics Quiz

Question 21. There are total .. regional Agmark laboratories across the
country?
(a). 09.
(b). 10.
(c). 11.
(d). 12.

Question 22. Question is missing..

(a). Kanpur.
(b). Kolkata.
(c). Bhopal.
(d). Jaipur.

Question 23. Which one is not a certification mark in India for food
products?
(a). FSSAI.
(b). FPO.
(c). AGMARK.
(d). India Organic.

Question 24. …. is known as the father of economics?

(a). John Maynard Keynes.
(b). Milton Friedman.
(c). John Pedro Sanchez.
(d). John Quiggin.

Question 25. The variable cost changes..?

(a). When the quality of the good or service that a business produces
changes.
(b). As the quantity of the good or service that a business produces
changes.
(c). Both a and b.
(d). None of the above.

Question 26. Variable costs are the sum of..?

(a). Marginal cost.
(b). Fixed cost.
(c). Average cost.
(d). All of the above.

Question 27. The variable cost is a component of total cost, another is..?
(a). Marginal cost.
(b). Fixed cost.
(c). Average cost.
(d). All of the above.

Question 28. Variable costs are also known as..?

(a). Non unit costs.
(b). Unit costs.
(c). Unit-even costs.
(d). Unit-level costs?

Question 29. In case of fixed cost unit the quantity of output is

measured..?
(a). On the horizontal axis.
(b). On the vertical axis.
(c). On the cross axis.
(d). None of the above.

Question 30. Keynes was a/an of..?

(a). English economist.
(b). American economist.
(c). Spanish economist.
(d). Australian economist.

Agriculture Economics Mock Test

Question 31. The ful Form of AGMARK is..?
(a). Agricultural Grading and Marketing.
(b). Agricultural Products Grading and Marketing.
(c). Agricultural Produce Grading and Marketing.
(d). Agricultural Marketing.

Question 32. The level of variable cost is influenced by..?

(a). Only fixed cost.
(b). Only the duration of project.
(c). Only on uncertainty.
(d). All of the above.

Question 33. The fertilizer subsidy in India was …. crore INR during
2017/18?
(a). 60,000.00.
(b). 70,000.00.
(c). 65,000.00.
(d). 75,000.00.

Question 34. …. is the example of variable cost..?

(a). Sales commissions
(b). Labor cost.
(c). Cost of raw materials.
(d). All of the above.
Question 35. Type of wealth is..?
(a). Individual wealth.
(b). National wealth.
(c). Both a and b.
(d). Positive wealth.

Question 36. Dumping is seen in..?

(a). Monopoly.
(b). Oligopoly.
(c). Duopoly.
(d). All of the above.

Question 37. The Common Agricultural Policy of …. has often been

accused of dumping?
(a). The US Union.
(b). The UK Union.
(c). The European Union.
(d). The Indian Union.

Question 38. Fixed cost includes..?

(a). Taxes.
(b). Insurance.
(c). Depreciation on machinery.
(d). All of the above.

Question 39. Fullform of CAP is..?

(a). Cost And Price.
(b). Common Agriculture Policy.
(c). Common Agricultural Policy.
(d). Cooperative Agricultural Policies.

Question 40. Which is true about agricultural subsidy in India..

1. Primarily consists of subsidies like irrigation, fertilizer, equipment,
seed subsidy.
2. Subsidy on fertilizers is provided by the Central government.
3. Subsidy on fertilizers is provided by the State government.
4. Subsidy on water and irrigation is provided by the local State
governments.
5. Subsidy on water and irrigation is provided by the Central
governments.
(a). 1, 2 and 4 are true.
(b). 1, 3 and 4 are true.
(c). 3, 4 and 5 are true.
(d). 2, 3 and 5 are true.

Agriculture Economics Objective

Question 41. Marginal cost is the change in the total cost..?
(a). That arises when the quantity produced is incremented by one unit.
(b). That arises when the quantity produced is incremented by two units.
(c). That arises when the quantity produced is incremented by several
units.
(d). None of the above.

Question 42. When fixed cost doesn’t change with the change in
output..?
(a). Marginal cost would be Minus.
(b). Marginal cost would be plus.
(c). Marginal cost would always be 0.
(d). All are possible.

Question 43. The Average Variable Cost is the result of..?

(a). Total variable cost and fixed cost.
(b). Output.and marginal cost.
(c). Marginal coat and total variable cost.
(d). Total variable cost and output.

Question 44. Formula of Average Variable Cost is..?

(a). AVC = Output/Total variable cost. (b). AVC = Total variable
cost/Output.
(c). AVC = Total variable cost × Output.
(d). AVC= Total variable cost + Output.

Question 45. Costs that do not vary with production are..?

(a). Marginal costs.
(b). Variable costs.
(c). Fixed cost.
(d). All of the above.

Question 46. Costs that vary with production are..?

(a). Marginal costs.
(b). Fixed costs.
(c). Both a and b.
(d). None of the above.

Question 47. Marginal costs are measured on the..?

(a). Vertical axis.
(b). Horizontal axis.
(c). Cross axis.
(d). All of the above.

Question 48. Marginal revenue are measured on the..?

(a). Coss axis.
(b). Horizontal axis.
(c). Vertical axis.
(d). None of the above.

Question 49. In marginal cost the quantity is measured on..?

(a). Corner to corner axis.
(b). Horizontal axis.
(c). Vertical axis.
(d). Without axis.

Question 50. Demand for wheat is..?

(a). Inelastic.
(b). Elastic.
(c). Both a and b.
(d). None of the above.
1. d 6. b

2. a 7. c

3. b 8. d

4. a 9. b

5. c 10. a

11. d 16. b

12. b 17. c

13. d 18. a

14. c 19. b

15. a 20. d

21. c 26. d

22. d 27. b

23. c 28. d

24. a 29. a

25. b 30. a

31. c 36. a

32. d 37. c

33. b 38. d

34. d 39. c

35. c 40. a

41. a 46. a

42. c 47. a

43. d 48. c

44. b 49. b

45. c 50. a