Agricultural Economics Quiz 2
1 / 50
A line which shows different combinations of two products a consumer can purchase with a specific money income, given the products price?
2 / 50
The absence of artificial barriers to trade among individuals and firms in different nations ?
3 / 50
A schedule showing the amounts households plan to spend for consumer goods at different levels of disposable income is called________________?
4 / 50
An index measuring national socioeconomic development based on measures of life expectancy at birth, educational attainment and adjusted per capital income ?
5 / 50
Other thing remain the same as price rises, the corresponding quantity supplied rises, as price falls the quantity supplied falls is___________________?
6 / 50
Any financial institution that serves to channel loan able funds savers to borrowers?
7 / 50
The currency of a major industrial country, such as the U.S dollar___________________?
8 / 50
Tax levied on production of specific product on quantity of product purchased ?
9 / 50
An economic plan that sets targets to cover all the major sectors of the national economy?
10 / 50
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 ?
11 / 50
?structural transformation of primary subsistence economy for economic development? war proposed by ?
12 / 50
Changing the term of existing loan________________?
13 / 50
The coordinating mechanism of capitalism is a system of___________________?
14 / 50
The monetary payment a firm must make to an outsider to obtain a resource____________________?
15 / 50
A condition when there is excessive produce in the market which lowers down the price is called__________________?
16 / 50
Increases in the price level resulting from an excess of demand over output at the existing price level, caused by an increase in aggregate demand ?
17 / 50
A section in a nation?s international balance of payments which records its export and import of goods and services, its net investment income, and its net transfers ?
18 / 50
An economic system in which property resources are privately owned and markets and prices are used to direct and coordinate economic activities________________?
19 / 50
People who are eager and able to work but for whom no suitable jobs are available?
20 / 50
The payment for the use of borrowed funds _____________?
21 / 50
Urban population is developed nations?
22 / 50
Productive efficiency means___________________?
23 / 50
A physical establishment which performs one or more functions in production, fabrication and distribution of goods and services ?
24 / 50
A good and service is indivisible and to which the exclusion principle does apply is called_________________?
25 / 50
A payment of money or goods & services by a govt. to a household or firm for which the payer receives no good or service directly in return______________?
26 / 50
To obtain the greates utility consumer should allocate money income so that last dollar spent on each good or service yields the same marginal utility ?
27 / 50
The number of children who die before their first birthday out of every 1,000 live births?
28 / 50
An economic system in which property resources are publicly owned and govt uses central economic planning to direct & coordinate economic activities ?
29 / 50
Group of LDC debtors who join together to bargain as a group with creditors?
30 / 50
In LDC children under age of 15 years are ___________% of the total population?
31 / 50
Total consumption deducted from total income is called__________________?
32 / 50
Production possibility curve is always concave because ?
33 / 50
______________assumes economic rationality and purely materialistic, individualistic, self interested orientation towards economic decision making?
34 / 50
The price paid for the use of services of labour per unit of time is called__________________?
35 / 50
The role of power in economic decision making is studied in________________?
36 / 50
The value of a product sold by a firm less the value of the products purchased and used by the firm to produce the product____________________?
37 / 50
Index measuring deprivation in basic human development in a country ?
38 / 50
Aggregate inequality measures that can vary anywhere from O (perfect equality) to 1 (perfect inequality) are given by________________?
39 / 50
Any resource whose quantity can not be changed by a firm in the short run_______________?
40 / 50
Amount of other products which must be foregone or sacrificed to obtain 1 unit of a specific good is called its______________?
41 / 50
A term used by ILO to describe the basic goods and services necessary for a minimum standard of living ?
42 / 50
A large govt. role and some degree of coordinated economic decision making directed towards transforming the economy are usually viewed as essential components of__________________?
43 / 50
The total amount buyers of goods and services sped or plan to spend____________________?
44 / 50
A ratio that shows the unit of capital required to produce a unit of output over a given period of time?
45 / 50
An economic system in which traditions and customs determine how the economy would use its scare resources ?
46 / 50
Allocative efficiency is__________________?
47 / 50
An accounting item which decreases the value of an asset___________________?
48 / 50
Increasing a country?s stock of real capital (net investment in fixed essels)__________________?
49 / 50
A tax which is a constant amount at all levels of GDP is termwd as ?
50 / 50
A minimum price which govt. allows seller to receive for a good or service____________________?
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