Agriculture Economics — Agri Master Mind
The formation of these society date back to 1904 when the first cooperative credit societies act was passed. The objective was to provide cheap credit for farmers in order to relive them form the clutches of money lenders.
- Primary agriculture cooperative society
- Agriculture service society
- National cooperative development cooperation
- Large scale multipurpose adivasi cooperative
- Reserve bank of India
The kind of loan/credit required by farmers to purchase farm machineries with his repayment capacity of five years is
- Short – term credit
- Medium – term credit
- Long – term credit
- Any one from the above
- None of these
The basis of farm budgeting is
- Farm planning
- Linear programming
- Production function analysis
- Cost benefit analysis
- None of these
The commission for agriculture costs & prices (CACP) came into existence in January 1965. As of now, CACP recommends MSPs of 23 commodities. How many cereals and oilseeds are covered under MSP respectively…..?
- 5,7
- 7,4
- 5,5
- 7,7
- 7,5
The market where there are large no of Buyers and sellers for same quality product is called :-
- Monopoly
- Perfect competition
- Monopsony
- Oilgopsony
- Imperfect competition
The red label of AGMARK is an indicator of-
- Grade A
- Grade b
- Grade C
- Grade D
- Grade E
The APP is maximum when-
- APP>MPP
- APP<MPP
- APP=MPP
- APP=TPP
- None of these
At optimum level of production of output, the margine return should be-
- Positive
- Negative
- Zero
- Equal to average return
- None of these
Which holds good at break even point?
- Total return – total cost
- Marginal return = marginal cost
- Marginal return > marginal cost
- Total return > total cost
- Both c and d
Choose the incorrect option
- Regional rural bank – Narshiman committee
- NABARD – Shivraman committee
- Single window system – Mohan singh Mehta committee
- Both A and B
- All are correct
The physical aspects of farm planning expressed in monetary term is known as
- Farm planning
- Farm income
- Farm budgeting
- Hedging
- None of these
Choose the incorrect option
- IRDP – 1980
- EXIM BANK – 1982
- Warehousing corporation act – 1963
- E NAM – 2016
- All are correct
Production function is defined as non- mathematically and as well as graphical representation that describe the extent to which a particular product depends on quantity of input, which of the following Reveals technical efficiency ??
- TPP
- MPP
- APP
- Ep (Elasticity)
- None of these
“ Relative elastic of demand” is a Proportional change in demand more than the proportionate change in price and it’s perfect example is/are
- Luxious good
- Agriculture committee
- Comforts (like T.V Bed)
- Essential goods
- All of these
Which of the following is/are correct? (Stages of Production)
- 1 stage – MC=MR
- 2 stage – Optimal stage of production
- 3 stage – TPP increasing at decreasing rate
- B and C
- A and B
Large farmer – 10 ha or above Semi medium farmer is holding land size? (In hact.)
- 1
- 3
- 5
- <1
- 10<
Adam smith is given theory of absolute advantage A.P Lernar is given
- Theory of profit
- Modern theory of interest
- Population theory
- Theory of inflation
- Theory of love
When farmers 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
- Collective farming
- Peasant farming
- Capitalistic farming
- None of these
In which of the following market structure is the degree of control over the price of its product by a firm very large?
- Perfect market
- Imperfect market
- Monopoly market
- Retail market
- Both A & D
Law of demand shows relation between:
- Price and quantity of commodity
- Income and price of commodity
- Income and quantity demanded
- Quantity demanded and quantity supplied
- None of these
The relationship between cost function and production function is:
- Positive
- Negative
- Increase
- Both are equal
- Positive or negative both
Minimum support price and procurement price are announced by gov. of India. Procurement price is the recommendation of CACP before/after ……………of crops.
- After sowing
- Before sowing
- After harvesting
- Before harvesting
- None of these
Curve which shows combination of two commodity which derive equal satisfaction to the consumer is called a ….
- Iso – product curve
- Sigmoid curve
- Iso quant curve
- Indifferent curve
- Both B and D
Agriculture credit, purchase agriculture equipment and land emprivement equipment medium term loan provide by bank. For purchasing New land which of the bank provide loan.
- NABARD
- RBI
- RRB
- All of these
- None of these
The apex body for institution finance for agriculture in India is________.
- RBI
- NABARD
- RRB
- SBI
- PNB
When there is a only one buyer of the product the market is termed as---
- Monopoly
- Oligopsony
- Monopsony
- Oligopoly
- All of these
Markets in which business is done in accordance with the ruled and regulations is called_____________?
- Perfect market
- Monopolistic market
- Regulated market
- Secular market
- None of these
All possible combinations of two inputs which can be purchased with a given amount of fund refer as--
- Isocost line
- Isobar
- Isoquant
- None of these
- Expansion path
Cooperative movement was started in India in 1904. So tell me the father of modern economics is
- F Nicholson
- Adam Smith
- A Walker
- A.P. Lerner
- Paul Samuelson
Demand for luxurious good is more elastic but the price elastic of demand for foodgrain is
- Elastic
- Inelastic
- Perfectly inelastic
- Relatively inelastic
- Both A&C
A financial year is a period of twelve months, used by government, business and other organization in order to calculate their budgets, profits and losses. Tell me the Agriculture year strated from
- 1 April
- 1 January
- 1 July
- 1 May
- 1 June
National bank for Agriculture & Rural development was established in July 1982. It provides _____ finance to rural communities
- Indirect
- Direct
- Absolute
- Downward
- Constant
This institute provide specified training, education, consultancy and research in agriculture marketing at national level. And it’s renamed as choudhary charan singh institute of Ag. Marketing. Given information is related to which institute.
- NAFED
- NAARM
- NIAM
- DMI
- None of these
Choose the incorrect related to GST?
- Act passed – March 2017
- CGST – Inter State
- SGST – Intra – State
- IGST – Inter – State
- None of these
In WTO, limited permission on subsidies like those on electricity, irrigation, fertilizers for the purpose of agriculture productions are counted under:
- Red box
- Green box
- White box
- Blue box
- Orange box
Finance management at farm level is called Micro finance management. But as per the RBI norms, How many____% of the Net Bank credit should be deployed in Agriculture
- 7
- 9
- 12
- 18
- 19
Which mark indicates the purity and quality of agriculture products. And this label is given under central agriculture produce (Grading & Marketing) Act, 1937.
- ECOMARK
- ISO
- AGMARK
- HOLMARK
- BIS
Land development Banks were known as-
- Apex Banks
- Agriculture Development Banks
- Land Mortgage Banks
- Rural Development Banks
- None of these
Match the column Organization Leading person (A) FSS (1) SHIVRAMAN (B)NABARD (2) BK HAZARE © DRI. (3) M. NARASIMHAN (D) RRB (4) BAWA
- 1-2-3-4
- 4-3-2-1
- 4-1-3-2
- 1-4-3-2
- 2-3-4-1
The Cabinet Committee on Economic Affairs (CCEA). Chaired by Prime Minister approved raising minimum support prices (MSP) of kharif crops for the 2023-2024 marketing season. What is the MSP of Moong (Rs/Quintal)…?
- 7000
- 5885
- 6950
- 6670
- 8858
RBI was established in which year-
- 1947
- 1950
- 1935
- 1939
- 1988
Cash in Bank is
- Very short term asset
- Long term asset
- Medium term asset
- Very long term asset
- All of these
Which utility of the agriculture produce is increased by processing (a) Place utility (b) Form utility (c) Knoweldge utility (d) Possession utility
- A
- B
- C
- D
- E
A market in which there are few buyers of a commodity but not is sufficient number is termed as (a) Monopoly market (b) oligopoly market (c) Monopsony market (d) oligopsony market
- A
- B
- C
- D
- E
GST is— (a) Direct Tax (b) Indirect Tax (c) both (d) none of these
- A
- B
- C
- D
- None of these
Elasticity of production is equal to ‘one’ when (A) MPP>APP (B) MPP APP (C) APP is maximum (D) none of these
- A
- B
- C
- D
- None of these
A market in which there are only two buyers of a commodity called is
- Duopoly
- Duopsony market
- Oligopoly
- Oligopsony
- Monopoly
The quantity of the produce required for the needs of the B producer is called (A) Marketable surplus (B) Marketed surplus © Forced sale (D) none of above
- A
- B
- C
- D
- Both a and b
Current ratio indicates the
- Liquidity position within one year time
- Liquidity position for the period of 2-5 years time
- Long term liquidity position
- All the above
- Both a and b
Which is not a function of management in the following (A) Planning (B) Controlling (C) Production (D) Organisation
- A
- B
- C
- D
- None of these
Average product is
- Output per unite of input
- Change in output due to one unit change in input
- Total output divided by one unit of variable input
- Total output divided by one unit of fixed input
- Both c and d
Which one of the following is not a system of farming (a) Contract Farming (b) State Farming (c) Specialized Farming (d) Owned Farming
- A
- B
- C
- D
- None of these
Risk and uncertainty could be reduced by
- Keeping money in Bank
- Crop and livestock insurance
- Following farm management principal
- Storing produce on the farm
- Both a and b
In which stage of production, the marginal product is always greater than average product (a) I stage (b) II stage (c) III stage (d) II and III stage
- A
- B
- C
- D
- None of these
In DAY-NRLM, all credit from the banks/financial institutions availed by women SHGs for a:
- Maximum of Rs. 30,000/-per SHG
- Maximum of Rs. 100,000/-per SHG
- Maximum of Rs. 300,000/-per SHG
- Maximum of Rs. 500,000/-per SHG
- None of these
Custom hiring of tractors and other farm machines is proving more useful to:
- Small farmers
- Medium farmers
- Large farmers
- Both A & B
- None of these
Giving of taking services of machines on payment basis is called:
- Custom hiring
- Custom giving service
- Custom hiring service
- None of these
- Both a and b
The importance of AM agriculture in Indian economy is indicated by its contribution to which of the following? (a) National income and employment (b) Industrial development and international trade (c) Supply of food grains (d) all of the above
- A
- B
- C
- D
- None of these
The price at which the government purchases foodgrains for maintaining the public distributaion system and for building up buffer stock are known as- (a) minimum support prices (b) procurement prices © issue prices (d) ceiling prices
- A
- B
- C
- D
- None of these
When MPP = ----, Then TPP is Highest
- 0
- 1
- 50
- 100
- 150