Farm Management Important MCQs

1 - A boom is marked by:






Overfull employment

2 - A farmer which has land holding between zero to one hectare is known as:






Marginal farmer

3 - A farmer, which has land holding between 1 to 2 hectare known as:






Small farmer

4 - A group of technical units are known as:






Plant

5 - A holding which allow to a man a chance of producing sufficient to support himself and his family in reasonable comfort after paying his necessary expenses is called:






Economic holding

6 - A holding which keeps in mind of the ceiling to the size, the marginal capacity and financial resources of an average cultivator, refers to the size not more than three times of the size of economic holding is called:






Optimum holding

7 - A market in which the purchase and sale is a commodity takes place at time 't' but the exchange of the commodity takes after t + 1 time, the market is known as:






Forward market

8 - A market structure with large number of firms selling homogeneous product is known as:






Monopolistic competition

9 - A normative farm plan is one which the farmer:






Should not adopt

10 - A single convenient unit in production for which technical co-efficient are calculated is known as:






Technical units

11 - A spoil bank is formed when the volume of excavated soil is _________________ of embankment filling?






Excess

12 - A statement, which shows the financial condition and stability of the business at a particular point of time, is known as:






Net worth statement

13 - A table is a :






Material good

14 - A.P.P. Will be equal to (Y = output, X = input):






Y/X

15 - Above 15% farmers had land holding in between:






2-4 ha

16 - Absence integration between resources and activities in the process of production is called:






Non-linearity

17 - According to Hung Chao Tai land reforms aim at attaining just relationship among ______ population:






Agricultural

18 - Air is:






Free goods

19 - As income increase the expenditure on light fuel and rent generally:






Remains the same

20 - As the price of a commodity goes up, the demand for it:






Contracts

21 - At equilibrium, the slope of the Indifference curve is:






Equal to the slope of the budget line

22 - Average fixed cost is equal to:






Total fixed cost/output

23 - Average product is equal to marginal product when:






Average Product is maximum

24 - Basic fundamental law of agriculture is:






Law of diminishing return

25 - Break-even point is determined by:






TR = TC

26 - Building machinery and implements are examples of:






Fixed resources

27 - Buyer's market devote the place where:






Supply exceeds the demand

28 - By preparing chairs the wood creates:






Form utility

29 - Capital market deals with:






Bonds and shares

30 - Commodity market deals with:






Wheat

31 - Co-operative farming, Collective farming, Capitalistic farming, State farming and Peasant farming are:






System of farming

32 - Creation of utility by way of marketing is known as:






Production

33 - Criteria for goods market information is:






All above

34 - Crop farming and milk production is an example of:






Complementary enterprise

35 - Cropping intensity and gestation period of the crops grown is:






Not interrelated

36 - Dairy farming, poultry farming, crop farming and pig farming are:






Types of farming

37 - Decisions are continuously made in the day to day operations of farm business and involve small investment are known as:






Operational decisions

38 - Decisions on construction of buildings are comes under:






Strategic decisions

39 - Decisions regarding irrigation, conservation and reclamation programmes are comes under:






Strategic decisions

40 - Decisions regarding selection of enterprise are known as:






Operational decisions

41 - Decrease in demand means:






Demand changes not due to the change in price but due to income

42 - Demand for necessary goods is:






Inelastic

43 - Diversified farming is a kind of:






Type of farming

44 - Economic laws are not ascertain as:






Physical laws

45 - Economics is a/an:






Art and science

46 - Economics is a:






Social science

47 - Economics is primarily a study of:






Man

48 - Economy of a developing country is marked by:






Predominance of agriculture

49 - Enterprise budgeting deals with input-output relationship of:






A single enterprises of the farm

50 - Expenditure on fertilizers is called:






Variable cost

51 - Extension is demand means:






Change in demand due to change in price

52 - Farm budgets are used to:






Do all the above

53 - Farm credit may be defined as lending:






For the development of agriculture

54 - Farm management as a resource allocation proportion is related to:






Intra-farm management

55 - Farm management concern with obtaining the maximum yield per hectare and considers per unit cost therefore it is:






Profitability Oriented

56 - Farm management deals with:






All of these

57 - Farm management is a practical science because of:






It deals with facts of other physical sciences and testing the applicability of those facts and findings

58 - Farm management treats every farm unit unique in available resources, problems and potentialities because it has:






Micro Approach

59 - Farm planning involves:






Preparing farm budget in advance

60 - Farming planning means:






Farm budgeting

61 - Fasts and findings of other science are coordinated for the solution of various problems of individual farmers with view to achieving certain desired goals, hence, farm management is:






Integrating Science

62 - For purchasing of seeds, fertilizers, etc., the loan distributed is called:






Short term loan

63 - Given that: Y = 30 X10.25 X20.60 Where Y = output, X1 = Input factor 1, and X2 = input factor 2, the nature of return to scale will be:






Increasing

64 - Goodwill of a business is a:






Non-material good

65 - Gross return plus charge in inventory minus total cost is equal to:






Farm income

66 - How many plots of one-hectare area can be farmed from one square km area?






100

67 - How much farmers have land holding more than 10 hectares?






0.04

68 - How much percent of total cost of production goes to labour investment?






25-30%

69 - How the field of farm management is broader?






It gets information from more than one discipline

70 - Human wants are generally:






Recurring

71 - If a per cent change in the price of a commodity is followed by a 10 percent change in the quanity demanded, the elasticity of demand of that commondity is:






0.2

72 - If change in price is 1% and charge in demand is 1% demand will be called:






Inelastic

73 - If more and more capital and labour are applied to a fixed piece of land, the system of cultivation or farming is known as:






Intensive cultivation

74 - If more is demanded at the same price, it is a case of:






Increases in demand

75 - If substitution ratio is equal to price ratio than cost will be:






Minimum

76 - If substitution ration is less than price ratio than cost will be:






Maximum

77 - If technical progress leads to a rise in labour productivity of 5%, then an increase of 5% in the wage rate would imply that:






Unit labour costs will remain unchanged

78 - If the income elasticity of demand is greater than one, the commodity is:






A luxury

79 - If the members have not any right on land and connot take decisions regarding farming but guided by a general body and profit is given according to the labour and capital invested by the member is known as:






Co-operative collective farming

80 - If the price of a commodity is decreased than the demand will:






Increase if other factors remain same

81 - If the production function is homogenous of degree one then the scale elasticity of output will be:






Equal to zero

82 - If the quanitity of a commodity demanded does not change when its price, the demand curve is:






Vertically sloped

83 - If the quantity of commodity demand remains unchanged as its price changes, the coefficient of price elasticity of demand is:






Equal to one

84 - If the small holders form a society for farming and get profit after deducting the expenses of his price of land and farmer also have right on his land the system is known as:






Co-operative joint farming

85 - If two items are complementary then demand of one item will increase for ______ in price of another item:






Increase

86 - If two items are supplementary than demand of item will decrease against the ______ in price of another item:






Increase

87 - In a complete farm planning due consideration is given to:






All of above

88 - In a manufacturing industry generally applies law of:






Constant return

89 - In a market situation when there is only one seller of a commodity, it is:






Monopoly Market

90 - In capitalistic farming, te land is owned by:






Both (a) and (b)

91 - In classical production function when average product is incresing:






Marginal product is greater than average product

92 - In classical production function, rational zone is always:






Second zone

93 - In economics the term 'labour' means:






Manual and mental work

94 - In economics the term 'land' as a factor of production includes:






All of the above

95 - In law of supply the relationship between price and quantity supplied is:






Direct

96 - In mixed farming the contribution of livestock to gross farm income is:






At least 10%

97 - In ogee spillway the discharge is directly proportional to _______________________?






H3/2

98 - In pesant farming the owner of the land is:






Farmer

99 - In prefect competition, there are:






Number of buyers and sellers are large and nearly equal

100 - In the short run, Average Cost, Average Variable Cost and Marginal Cost Curves are 'U' shaped due to the operation of:






Low of equimarginal returns

101 - In which method of sale, prices are fixed by mutual agreement:






Private negotiation

102 - In which planning period profit rule says that gross return should cover variable cost:






Short run

103 - In which planning period we can change the output by altering the size of form:






Long run

104 - In which planning period we can change the output without altering the size of the plant:






Short run

105 - In which relationship increase or decrease in the production of one product affects the production of the other commodity inversely:






Competitive

106 - In which system of sale commission agents takes the sample of the produce to the shops of buyers?






Quotations on samples

107 - Income tax is a:






Direct tax

108 - Indifference curve are those curve:






Which does not intersect to each other

109 - Individuals do not have physical control of the product but they render personal service are known as:






Brokers

110 - Individuals who buy goods from whole sellers and sell them to the consumers in small quantities are known as:






Retailer

111 - Individuals, which specialize in performing the various marketing functions and rendering their services, are known as:






Middle man

112 - Initial utility is the utility of the:






First unit

113 - Iso-revenue line is a:






Straight line

114 - It is important to keep the saturation gradient line within the body of a embankment of canal, the saturation gradient line in loomy soils lie at___________________?






1:4 to 1:6

115 - Keeping few birds, some fruit trees and a small garden on farm are the:






Competitive enterprise

116 - Land holding of either 10 or more hectares have been classified as:






Large

117 - Land reforms have been equated with total ______ development:






Agrarian

118 - Level of output of a particular commodity depends upon the quantities of inputs used for its production. This relationship is known as:






Production function

119 - M.P.P. is equal to (P = Production, X = input):






rP/rX

120 - Main functions of a Central Bank are:






To regulate entire banking institute of the state

121 - Management decisions, which involve lasting effects, are known as:






Strtegic decisions

122 - Man's wants are:






Unlimited

123 - Marginal cost is equal to:






Change in total cost/change in output

124 - Marginal cost is the:






Change in cost due to one unit change in output

125 - Mines and Fishes are subject to the law of:






Diminishing return

126 - Monopsony implies the existence of a :






Single buyer

127 - Morginal cost is equal to:






The extra cost of an additional unit produced

128 - Name the market in which permanent or durables commodities are traded:






Secular market

129 - Net capital ration is equal to:






Total assets/Total liabilities

130 - Net return per hectare is:






Overall efficiency measure

131 - Oligopoly is a market situation, which is characterized by the existence of:






Few firms

132 - Onion is a ___________ rooted crop?






Shallow

133 - Opportunity cost is:






Cost of next best alternative foregone

134 - Optimizing the use of farm resources on an individual farm level. It is a:






Farm management

135 - Patents and copyrights are:






Non-material goods

136 - Payment made to labour for its assistance to production, is called:






Wage

137 - Per hectare calculated cost is known as:






Cost of cultivation

138 - Per Qunital calculated cost is known as:






Cost of production

139 - Perfect Elasticity is shown by:






Horizontal straight line

140 - Persons who expect that price will go up in future are known as:






Bulls

141 - Persons who expects that prices will go down in future are:






Bears

142 - Prices are settled by pressing the fingers under cover of a piece of cloth is:






Under cover of a cloth

143 - Primary wholesale market, secondary wholesale market and terminal market are the kind of:






Wholesale market

144 - Profits are defined as P (pie) = R - (TFC + TVC), where TFC = total fixed cost and TVC = total variable cost and:






R = Revenue

145 - Quantitated instrument of monetary policy includes:






All of the above

146 - Regulated markets are those in which:






Business is conducted with the rules and regulations framed by statutory market

147 - Rent arises under:






Extensive cultivation

148 - Royal Commission of agriculture submitted its report in:






1928

149 - Selection and adoption of best packages of practices comes under:






Farm management

150 - Smaller than economic holding is known as:






Basic holding

151 - Some middleman do not buy and sell directly but assist in the marketing process, they are known as:






Facilittive middle man

152 - Specialized farming and diversified farming are:






Types of farming

153 - Star TV is controlled at:






Hong Kong

154 - Storage function creates:






Time utility

155 - Success of a farm plan depends to a great extent, on the accuracy of basic date regarding:






All of these

156 - Sufficient condition of farm efficiency is generally referred to as choice indicator becaue it:






Helps to make allocation compatible with the given objectives

157 - Sunlight is:






free godd

158 - Supply for perishables in very short run:






Remains constant

159 - Symbol used for purity of agricultural goods is:






AGMARK

160 - The _________ analysis of earth dam foundation against shear must be carried out when the foundation is kept on fine loose cohesion less material?






Stability

161 - The amount added to total cost for producing additional unit of output is known as:






Marginal cost

162 - The assets that are difficult to convert into cash to meet any current obligations are:






Fixed assets

163 - The author of the ""wealth of nations"was:






Adam Smith

164 - The Canons of taxation were given by:






Adam Smith

165 - The classical theory of interest is also called as:






Real theory of interest

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






Implicit cost

167 - The cost of various operations from land preparation to threshing of the crop is known as:






Cost of cultivation

168 - The cost which are not paid to others, are called:






Implicit cost

169 - The cost which is varying with the output is called:






Variable cost

170 - The counter berm for a canal is provided so as to contain the saturation gradient line _____________ the bank?






Within

171 - The decisions about land resources and farming operations, questions like what to produce, how to produce and how to equip the farm, are known as:






Production and organization problem decision

172 - The demand for common salt is:






Inelastic

173 - The demand for wheat is:






Less elastic

174 - The expenditure on ______ increases as income increases:






Comforts

175 - The force with which the distinct bodies held together when their surfaces are brought in contact to each other is called _________________?






Adhesion

176 - The force with which the particles of same body are held together is called_______________?






Adhesion

177 - The formula for rate of capital turn over is:






Gross Income/Total Farm Assests x 100

178 - The fource of finance of State Co-operative Bank is:






Both (a) and (b)

179 - The function of successful farm manager is:






All of these

180 - The grain dealer stocks grain to supply it as the time of shortage and creates:






Time utility

181 - The individuals granted broad powers by those who purchase are known as:






Commission agents

182 - The inflection point on total product curve corresponds to the:






Minimum of marginal product curve

183 - The large number of combination of two inputs which have some cost is known as:






Iso cost

184 - The law of diminishing returns applies more generally to:






Agricultural Industry

185 - The law, which is very useful in determining the best use of limited resources, is:






Law of opportunity cost

186 - The level above the or below the sea level which is also called zero level or datum is called ___________________?






Reduce level

187 - The losses of irrigation water due to the seepage but That. does not join the under ground reservoir is called __________________?






Absorption losses

188 - The main cause of inflation is in money supply and decrease in production:






Increase

189 - The main objective of land reform measures undertaken after independence was removal of institutional and _____ obstacles:






Motivational

190 - The marginally productivity theory is based on the assumption of






Elastic competition

191 - The meanings of the word 'Economics' is most closely associated with the word:






Scarce

192 - The modern theory of population is called:






Demand and supply theory of population

193 - The Money paid for the use of money borrowed is nothing but:






Interest

194 - The more we have of a thing, the desire for addditional units of it will be:






Less

195 - The most common method exist in regulated markets is:






Open auction system

196 - The most influence factor of inflation is increase in money supply and _____ in production:






No effect

197 - The most liquid assets are:






Working assets

198 - The object of subsistence farm is to produce:






Essential food crops for family only

199 - The other name of overhed cost is:






Fixed cost

200 - The peculiarities of land as a factor of production are:






A free gift of nature

201 - The physical property of a business along with their values at a specific date is enlisted in:






Farm inventory

202 - The primary cooperative credit societies have:






Three-tier structure

203 - The principle of equi-marginal return states that the profits will be the greatest if unit resources are used where:






Marginal returns are the highest

204 - The principles of taxation were given by:






Adam Smith

205 - The process of determination of wages, rent, interest and profit is called:






Distribution

206 - The process of transformation of certain resources of inputs is known as:






Production

207 - The purchase or sale of a commodity at the present price with the object of sale or purchase at some future date at a favourable price is known as:






Speculation

208 - The relationship between cost function and production function is:






Negative

209 - The required for a resource to be completely transformed into a product is referred to:






Both (a) and (b)

210 - The resources, if their services are not used, these cannot be stocked are known as:






Flow resources

211 - The return from best alternate use of that input forgone by putting it to the present use is known as:






Opportunity cost

212 - The route through which agricultural products move from producers to consumers is known as:






Marketing channels

213 - The sheet or small layer of water flowing over an ogee spillway is called _________________?






Nappe

214 - The significant damage to crop generally occurs when capillary meniscus reaches permanent wilting point known as _______________?






A and B

215 - The spurt to Zero Marginal Productivity type of exercise was given by _____ in 1954:






W. Arthur Lewis

216 - The statement in the process of production and distribution of goods, income is generated and distributed amongst the factors of production was given by:






J.B. Say

217 - The technique which protect the traders from extreme falls in price is known as:






Hedging

218 - The term ""Agricultural Economics"is used in preference to the term ""Rural Economics"for the following reason:






Both (a) and (b)

219 - The term ""land reform"should be used in broadest sense to serve as ______ for action:






Prescrription

220 - The term monopolistic competition means:






A large number of seller heterogeneous commodity

221 - The term monpoloy means:






When there is only one seller of a commodity

222 - The term oligopoly means:






There is two or more seller of a commodity

223 - The term 'operatonal holding' refers to the:






Net land area cultivated by a farmer

224 - The total fixed cost curve:






Remains constant at all the output

225 - The value of coefficient of discharge in comparison to cofficient of velocity is found to be ____________________?






Lesser

226 - The want satisfying power of commodity is called :






Utility

227 - Those crops which increase the nitrogen content of the soil and hence the fertility also are called ___________________?






Leguminous crops

228 - To pack with clay material generally for the purpose of checking leakage of water is called __________________?






Pug

229 - To whom do you attribute the 'Concept of consumer's Surplus'?






Alfred Marshall

230 - Total cost is equal to:






Fixed cost + Variable cost

231 - Total output is maximum t the point when:






Marginal product is zero

232 - Under the crop loan system, the farmer is given loan in the form of:






Partly case and partly kind

233 - Uniform interest rate policy is not justified from the viewpoint of economic soundness because it does not take into account:






Size of loan

234 - Utility in economics means:






Want-satisfying power of a commodity

235 - Utility of the last unit is called as:






Marginal utility

236 - We get maximum satisfaction when:






Total utility is decreases

237 - Wealth is a:






Fund

238 - What is the basic consideration for advancing crop loan by commercial banks?






Cost of production per unit of area

239 - When frmers pool their land, labour and capital and work jointly under the direction of an elected managing committee and divide the profit among themselves in probortion of land contributed and wages earned by each one of them it is called?






Co-operative farming

240 - When increase or decrease in the level of one product does not affect the production level of another product, this relationship is known as?






Supplementary

241 - When land is owned by government and workers work as employees getting their wages regularity, it is called?






State farming

242 - When marginal product is zero, the total product is?






Maximum

243 - When price rises, demand?






Decreases

244 - When quantity demanded of a commodity decreases with the increase in its price, it is called?






Decrease in demand

245 - When total cost is divided by total units of the production, we get?






Average cost

246 - When total product is highest, marginal product will be?






Zero

247 - When total utility increases, marginal utility is?






Positive

248 - When variable cost is zero, the total cost will be?






Equal to fixed cost

249 - When we study a problem from particular to general, the method is known as?






Inductive method

250 - Which of the following definitions of economics includes the economic concept of 'Scales of Preferences'?






Scarcity' Definition

251 - Which of the following is an economic factor, affects the type or system of farming?






Availability of capital

252 - Which of the following is not a component of farm business?






Water

253 - Which of the following is not a factor-affecting rate of market development?






Disturbance and un-security

254 - Which of the following is not a farming system on the basis of ownership and management classification?






Mixed farming

255 - Which of the following is not a type of farming on the basis of land use and cultural practices classification?






Tenant farming

256 - Which of the following is not component of farm business?






Environment

257 - Which of the following is not merit of open auction system?






The buyers of small lots have disadvantage

258 - Which of the following statement is correct?






When average cost is increasing, it is more than marginal cost

259 - Which of the following statement is wrong for perfect market?






Buyers and sellers have imperfect nowledge of demand and supply

260 - Which of the following system as followed for collecting land revenue during British period?






All the systems

261 - Which of this statement are correct?






All of these

262 - Which one of following statement is correct?






Labour is inseparable from te labourer

263 - Which one of the following formulae gives the correct measure of 'Rate of Capital turnover'?






(Gross income/Total farm assets) x 100

264 - Which one of the following is correct statement for market?






All of these

265 - Which one of the following is not a physical factor affecting the type of farming?






Climate

266 - Which one of the following is not a system of farming?






Mixed farming

267 - Which one of the following is not capital?






Furniture in a house

268 - Which one of the following is operational decision?






Level of resource ue

269 - Which one of the following pairs is correctly matched?






Marginal cost = Additional cost to produce an additional unit of output

270 - Which one of the following principles is employed in production when resources are scarce?






Equal-marginal principle

271 - Which one of the following relationship will provide least cost combination of input use?






rX1/rx2 = Px1/Px2

272 - Which statement is used for classical economist to theory of income and employment?






Theory was not based on assumption and full employment

273 - Who defined consumption as the use of economic goods and personal services in the satisfaction of human wants?






Marshall

274 - Who has contributed the modern theory of interest?






J.R. Hicks

275 - Who has defined Agriculture economics as the branch of economics dealing with the production and distribution of agricultural commodities and the institutions associated with agriculture?






L.C.Gay

276 - Who propounded the theory of optimum population first?






Sidgwick

277 - Who said; that ""all those phenomenon which can be brought directly or indirectly into relation with measuring rod of money fall under the subject matter of economics?






Marshal

278 - Who was the first economist to have evolved the technique of indifference curve analysis?






F.Y. Edgeworth

279 - Who was the first economist to have propounded the theory of rent?






Alfred Marshall

280 - Who wrote the book, ""The Theory of Monopolistic Competition"":






E.H. Chamberlin

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