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Agricultural Economics Quiz 4


Agricultural Economics Quiz 4

1 / 50

A legally determined price above the equilibrium price is__________________?

2 / 50

A simplified picture of economic reality, an abstract generalization ?

3 / 50

The ability of Market forces to synchronize selling and buying decision to eliminate potential surpluses and shortages is known as_________________?

4 / 50

Power of a good/ service to satisfy human desire/want is called____________________?

5 / 50

A type of unemployment caused by insufficient total spending___________________?

6 / 50

The intersection of the supply curve and demand curve indicates ?

7 / 50

__________________provides an overview of the operation of the capitalist system ?

8 / 50

Transfer of funds to a foreign country by a local citizen by business ?

9 / 50

An industry in which expansion through the entry of firms decreases the prices, firms in the industry must pay for resources and there fore decreases their production costs ?

10 / 50

Selling public assets to individuals or private business interests ?

11 / 50

An agreement among sellers of a commodity to set a common price or share their commodity market?

12 / 50

An organization which employs resources to produce a good or service for profit and own and operates one or more plants is called_______________?

13 / 50

Advantage that occurs to individual or society as a whole as a result of increase in the consumption of certain types of goods or services by other individuals ?

14 / 50

The use of the resources of an individual or firm, a region, or a nation to produce one or a few goods and services ?

15 / 50

The investment of private foreign funds in the economy of a developing nation?

16 / 50

determinants of demand are some times referred as__________________________?

17 / 50

People both rural and urban who are working less than they could___________________?

18 / 50

The emigration of highly skilled and educated professionals and technical man power from developing to developed countries?

19 / 50

Noble prize of Economics in 1979 was awarded to________________?

20 / 50

The study process by which a productive capacity of the economy is increased over time to bring about raising levels of national output and income?

21 / 50

An analytic approach in which we move from general to particular from theory to facts is_________________?

22 / 50

Total number of monetary units received by a firm from the sale of a product is called___________________?

23 / 50

?Wealth of nations? was written by_________________?

24 / 50

An involuntary payment of money to govt. by a household or firm for which the household or firm receives no good or services directly in return ?

25 / 50

Urban migration is causing the labour force to grow at annual rates of _____________in LDC?

26 / 50

Opportunity cost is illustrated by the___________________?

27 / 50

A curve showing the distribution of income in an economy___________________?

28 / 50

A film on economics in which economists study and observe the details of an economic unit or a very small judgment of economy is__________________?

29 / 50

The process of deriving principles is called___________________?

30 / 50

Upward shift of the demand curve is due to_________________?

31 / 50

?The tricks of economic growth and development are simply a matter of increasing national savings and investment.? Is a simplest form of?

32 / 50

A decrease in the governmentally defined value of currency ____________________?

33 / 50

The amount by which a nation?s import of goods (or goods and services) exceeds its export of goods or goods and services is________________?

34 / 50

The body of knowledge and techniques which can be used to produce goods and service from economic resources is________________?

35 / 50

A market in which products are sold by firms and bought by households is_________________?

36 / 50

The increasing integration of national economies into expanding international market ?

37 / 50

Hitler introduced ?

38 / 50

Cooperation among unification of the economies of different nations is termed as_____________________?

39 / 50

Using part of income/saving for more income is called_________________?

40 / 50

A tax levied on the cost of a board group of products______________________?

41 / 50

A payment of funds by a govt. firm or house hold for which it receives no goods or services in return?

42 / 50

A market in which products households sell and firms buy resources or the services of resources is__________________?

43 / 50

Increase in the price level at a rate greater than expected ?

44 / 50

Cetris peribus stands for__________________?

45 / 50

The sum of interest payments and repayment of principal on external public and public ally guarantee debt?

46 / 50

The attainment of literacy, arithmetic competence and elementary vocational skills ?

47 / 50

A firm which engages in in the busyness of banking_________________?

48 / 50

Legally established maximum price of a good or service__________________?

49 / 50

Any system that features one price for sellers and another for buyers ?

50 / 50

An asset set aside for future use is termed as_______________________?

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