Agricultural Economics Quiz 5

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

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

The extreme case of physical resource endowment is ________________?

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__________________?

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

A measure of the real purchasing power of the community ?

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

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

?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.? ?

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

In least developed nations dependent children are__________________?

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?

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

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

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

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 ?

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

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

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

An ownership share in a corporation___________________?

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

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

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

A supply curve shifts because of change in_____________________?

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

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

Agriculture contribution in GNP of developing nations?

Stage of growth model development was porposed by____________________?

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

Excess of total revenue over total costs_______________?

Agriculture contribution in GNP of developing nations ?

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

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

Productive investments embodied in human persons?