Agricultural Economics Quiz 5

The sacrifice of some or all one economic goal, good, or services to achieve some other goal, good or service is called__________________?

The responsiveness of the quantity demand of a commodity to change in the consumer?s income, measured by the proportionate change in quantity divided by the proportionate change in income ?

Productive investments embodied in human persons?

Agriculture contribution in GNP of developing nations ?

The study of how economies are transformed from stagnation to growth and from low income to higher income status?

The part of the urban economy of LDC?s characterized by small competitive individual or family firms, labour intensive methods, free entry and market determined factor and product prices?

An ownership share in a corporation___________________?

The activity of buying or selling with the motive of later reselling or re buying for profit is called ?

An interest bearing deposit which normally can be withdrawn by the depositor at any time ?

In least developed nations dependent children are__________________?

A measure of the real purchasing power of the community ?

A supply curve shifts because of change in_____________________?

Changes in govt. spending and tax collection designed to achieve a full employment and non-inflationary domestic out put is called___________________?

?All LDC?s require to take off into a period of self-sustaining economic growth is a massive investment program designed to promote rapid industrialization and the building up of economic infrastructure.? ?

Obtaining the socially optimal amounts of goods and services using minimum necessary resources ?

Private or public debt owed to foreign citizens firms and institutions ?

Excess of total revenue over total costs_______________?

Situation in which govt. intervention in an economy worsens outcomes__________________?

A debit which monitory value, an amount awed by a firm or an individual___________________?

Stocks of commodities held by the countries or international organizations to moderate the commodities price fluctuations ?

An organization of producers agreeing to limit the output of their product in an effort to raise prices and profit ?

Activities of central bank designed to influence financial variables such as money supply and interest rates?

The total revenue of a film less all its economic costs is called_____________________?

Problems that occur to the individuals or society as a whole as a result of the unpopular consumption habits. Of another individual e.g drug addiction ?

A group of firms which produces identical or similar products__________________?

Agriculture contribution in GNP of developing nations?

The transfer of savings from developing countries to industrially advanced countries to avoid govt. expropriation, taxation and high rates of inflation is_________________?

The extreme case of physical resource endowment is ________________?

?Economics is the study of causes of material welfare? was defined by___________________?

When price for one and demand for other move in same direction we say them___________________?

Stage of growth model development was porposed by____________________?

All international changes in ownership of merchandise passing across the customs borders of trading countries?

Failure to use all available economic resources to produce goods and services is called__________________?

An essentially risk free, long term interest rate which is free of the influence of market imperfections?

The demand schedule or the demand curve of all buyers of a good or service is called____________________?