| ______ an application of the accounting principles to the business of farming: |
| A. | Farm planning | B. | Farm budgeting |
| C. | Farm accounting | D. | Marketing |
|
| Beef’ and ‘hides’ are examples of: |
| A. | Independent enterprise | B. | Joint enterprise |
| C. | Supplementary enterprise | D. | Competitive enterprise |
|
| Which of the following is not correctly matched? |
| A. | App rises continuously till APP and MPP is both equal. | B. | MPP rises continuously – Till MPP is more than APP |
| C. | TPP rises continuously – Till MPP is not equal to Zero | D. | APP & MPP both fall but TPP rises. When MPP is less than APP but more than zero |
|
| Rent is the price paid for the use of land” who said it? |
| A. | Ricardo | B. | Carber |
| C. | Keynes | D. | None of above |
|
| “Under free and prefect competition there could not be any involuntary unemployment amongst wage earners in the labour market”. This theory was established by: |
| A. | Prof. J.B. Say | B. | Prof. Pigou |
| C. | Prof. Keynes | D. | None of above |
|
| Which one of the following pairs is not correctly matched? |
| A. | Elasticity of production = Stage III of classical production function greater than unity | B. | Negative marginal product = Stge III of classical production function |
| C. | Negative elasticity of production = Stage III of classical production function | D. | Average product decreases but is greater than marginal product = Stage II of classical production function |
|
| World Trade Organization (W.T.O.) was established in: |
| A. | 1992 | B. | 1998 |
| C. | 1995 | D. | 1997 |
|
| A consumer spends his income according to the law of: |
| A. | Diminishing marginal utility | B. | Increasing cost |
| C. | Equi-marginal utility | D. | Least cost |
|
| A crop loan over Rs. 1,00,000 will require: |
| A. | Equitable mortagage | B. | Registered mortgage of land |
| C. | Personal security | D. | None of these |
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| A farmer having less than one hectare of irrigated the land, is known as: |
| A. | Small farmers | B. | Marginal farmers |
| C. | Big farmers | D. | None of the above |
|
| A farmer, which has land holding between 1 to 2 hectare known as: |
| A. | Marginal farmer | B. | Small farmer |
| C. | Optimal farmer | D. | None of the above |
|
| A group of technical units are known as: |
| A. | Farm firm | B. | Plant |
| C. | Economic unit | D. | All above |
|
| A holding which allow to a man a chance of producing sufficient to support himself and his family in reasonable comfort after paying his necessary expenses is called: |
| A. | Basic holding | B. | Optimum holding |
| C. | Operational holding | D. | Economic holding |
|
| A market in which the purchase and sale is a commodity takes place at time ‘t’ but the exchange of the commodity takes after t + 1 time, the market is known as: |
| A. | Spot | B. | Cash market |
| C. | Forward market | D. | General market |
|
| A market structure with large number of firms selling homogeneous product is known as: |
| A. | Monopoly market | B. | Monopolistic competition |
| C. | Perfect competition | D. | None of these |
|
| A normative farm plan is one which the farmer: |
| A. | Has already put into operation on his farm | B. | Should adopt during the current 5 year plan period |
| C. | Had actually adopted in the earlier 5 year plan periods |
|
| A single convenient unit in production for which technical co-efficient are calculated is known as: |
| A. | Units of accounting | B. | Technical units |
| C. | Marginal units | D. | None of the above |
|
| A statement, which shows the financial condition and stability of the business at a particular point of time, is known as: |
| A. | Net worth statement | B. | Business statement |
| C. | Physical efficiency measures | D. | None of the above
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