Free Agricultural Economics and Extension MCQs with Answers

• A. Public revenue
• B. Public good
• C. Public finance
• D. None

Explanation: Public finance studies government revenue, taxation, expenditure, borrowing, and budgeting.

• A. None
• B. Ceiling price
• C. Equilibrium price
• D. Floor price

Explanation: A price floor is a legally imposed minimum price and is effective when set above equilibrium, creating possible surplus supply.

• A. capital flight
• B. capital account
• C. capital deficit
• D. All of these

Explanation: Capital flight is the movement of savings or financial capital out of a country because investors fear expropriation, heavy taxation…

• A. Economizing problem
• B. Economic planning
• C. Fiscal policy
• D. None

Explanation: Fiscal policy uses government spending and taxation to influence employment, output, and inflation.

• A. All of these
• B. Perfect market
• C. Imperfect market
• D. Market glut

Explanation: A market glut is an excess supply of a commodity, often causing its market price to fall.

• A. Economic growth
• B. Economic development
• C. Growth rate
• D. Economic efficiency

Explanation: Economic growth means an increase in real national output or real output per person.

• A. Subsidy
• B. Dumping
• C. Inflation
• D. Monopoly

Explanation: Dumping occurs when a product is exported at a price below its home-market price or below its production cost.

• A. All of theseTake Economics Courses
• B. Worth
• C. The point of satiety
• D. Utility

Explanation: Utility is the want-satisfying power of a good or service. Worth is a value or price concept, while the point of satiety refers to the…

• A. Adam Smith
• B. Marks
• C. Robins
• D. Marshall

Explanation: Alfred Marshall defined economics in terms of the causes and conditions of material welfare.

• A. Agriculture
• B. Industry
• C. Banking
• D. Manufacturing

Explanation: Agriculture is traditionally regarded as Pakistan's largest economic sector because it contributes substantially to employment, food…