Agricultural Economics Quiz 4
1 / 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 ?
2 / 50
A market in which products are sold by firms and bought by households is_________________?
3 / 50
__________________provides an overview of the operation of the capitalist system ?
4 / 50
Urban migration is causing the labour force to grow at annual rates of _____________in LDC?
5 / 50
Increase in the price level at a rate greater than expected ?
6 / 50
Hitler introduced ?
7 / 50
Cooperation among unification of the economies of different nations is termed as_____________________?
8 / 50
Selling public assets to individuals or private business interests ?
9 / 50
An asset set aside for future use is termed as_______________________?
10 / 50
Power of a good/ service to satisfy human desire/want is called____________________?
11 / 50
Upward shift of the demand curve is due to_________________?
12 / 50
The process of deriving principles is called___________________?
13 / 50
The ability of Market forces to synchronize selling and buying decision to eliminate potential surpluses and shortages is known as_________________?
14 / 50
Legally established maximum price of a good or service__________________?
15 / 50
A market in which products households sell and firms buy resources or the services of resources is__________________?
16 / 50
A curve showing the distribution of income in an economy___________________?
17 / 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?
18 / 50
?Wealth of nations? was written by_________________?
19 / 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__________________?
20 / 50
Cetris peribus stands for__________________?
21 / 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 ?
22 / 50
The investment of private foreign funds in the economy of a developing nation?
23 / 50
A type of unemployment caused by insufficient total spending___________________?
24 / 50
People both rural and urban who are working less than they could___________________?
25 / 50
A tax levied on the cost of a board group of products______________________?
26 / 50
A decrease in the governmentally defined value of currency ____________________?
27 / 50
A simplified picture of economic reality, an abstract generalization ?
28 / 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 ?
29 / 50
A payment of funds by a govt. firm or house hold for which it receives no goods or services in return?
30 / 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 ?
31 / 50
A legally determined price above the equilibrium price is__________________?
32 / 50
A firm which engages in in the busyness of banking_________________?
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
An agreement among sellers of a commodity to set a common price or share their commodity market?
35 / 50
Any system that features one price for sellers and another for buyers ?
36 / 50
determinants of demand are some times referred as__________________________?
37 / 50
Noble prize of Economics in 1979 was awarded to________________?
38 / 50
An analytic approach in which we move from general to particular from theory to facts is_________________?
39 / 50
The body of knowledge and techniques which can be used to produce goods and service from economic resources is________________?
40 / 50
Opportunity cost is illustrated by the___________________?
41 / 50
The attainment of literacy, arithmetic competence and elementary vocational skills ?
42 / 50
Transfer of funds to a foreign country by a local citizen by business ?
43 / 50
An organization which employs resources to produce a good or service for profit and own and operates one or more plants is called_______________?
44 / 50
The intersection of the supply curve and demand curve indicates ?
45 / 50
?The tricks of economic growth and development are simply a matter of increasing national savings and investment.? Is a simplest form of?
46 / 50
The increasing integration of national economies into expanding international market ?
47 / 50
Using part of income/saving for more income is called_________________?
48 / 50
Total number of monetary units received by a firm from the sale of a product is called___________________?
49 / 50
The emigration of highly skilled and educated professionals and technical man power from developing to developed countries?
50 / 50
The sum of interest payments and repayment of principal on external public and public ally guarantee debt?
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