All Free Agriculture MCQs with Answers
Every Agriculture question in the bank, across all chapters, each with the correct answer and a written explanation. Free and unlimited, with no account needed.
2,315 questions · page 3 of 116
- A. 20 %
- B. 35 %
- C. 50 %
- D. 14 %
Explanation: Agriculture contributes about 14% of GNP in developing nations as an overall average, although its share is much higher in many poorer…
Correct answer: 14 %- A. 42 %
- B. 27 %
- C. 50 %
- D. 35 %
Explanation: Approximately 27% of the population in developed countries is rural-based, consistent with their high level of urbanization.
Correct answer: 27 %- A. 40 %
- B. 50 %
- C. 80 %
- D. None
Explanation: Children under 15 make up about 40% of the population in least-developed countries because these countries generally have high birth rates…
Correct answer: 40 %- A. Society wastes
- B. Economic dependency burden
- C. Society burden
- D. None of these
Explanation: Non-working members supported by the economically active population constitute the economic dependency burden.
Correct answer: Economic dependency burden- A. Sustenance
- B. All
- C. Freedom
- D. Self esteem
Explanation: Development has three core values in the classic development framework: sustenance, self-esteem, and freedom from servitude.
Correct answer: All- A. W. Arthur Lewis
- B. Theodore Schultz
- C. Both a and b
- D. None
Explanation: W. Arthur Lewis and Theodore W. Schultz jointly received the 1979 Nobel Prize in Economic Sciences for work on economic development…
Correct answer: Both a and b- A. Political economics
- B. Traditional economics
- C. Development economics
- D. None of these
Explanation: Political economics, more commonly called political economy, examines how political power and institutions influence economic decisions…
Correct answer: Political economics- A. Cyclic flow
- B. Business cycle
- C. Both
- D. None
Explanation: A business cycle is the recurring expansion and contraction of economic activity over several years, including changes in production…
Correct answer: Business cycle- A. Exchange rate appreciation
- B. Exchange rate depreciation
- C. None of these
- D. Exchange rate determinant
Explanation: The rate at which one currency exchanges for another is the exchange rate.
Correct answer: None of these- A. Nominal cost
- B. Explicit cost
- C. Economic cost
- D. Implicit cost
Explanation: Income sacrificed when a firm uses a resource it owns instead of renting or selling it is an implicit cost, because no direct cash payment…
Correct answer: Implicit cost- A. Variable resource
- B. Fixed resource
- C. Available resource
- D. Economic resource
Explanation: A fixed resource cannot be changed in quantity during the short run, such as the size of a farm building or installed machinery.
Correct answer: Fixed resource- A. Plant
- B. Company
- C. Industry
- D. Organization
Explanation: An industry is a group of firms producing identical or closely related goods or services.
Correct answer: Industry- A. Lockout
- B. Logrolling
- C. None
- D. Liability
Explanation: A liability is a debt or financial obligation owed by a firm or individual, recorded on the balance sheet.
Correct answer: Liability- A. Lump sum tax
- B. Surcharge
- C. Fixed tax
- D. None
Explanation: A lump-sum tax is a fixed monetary amount that does not change with income or GDP.
Correct answer: Lump sum tax- A. State bank
- B. World bank
- C. Commercial bank
- D. None
Explanation: A commercial bank accepts deposits, provides loans, and performs ordinary banking services for the public.
Correct answer: Commercial bank- A. Income schedule
- B. Saving schedule
- C. None
- D. Consumption schedule
Explanation: A consumption schedule shows planned consumer spending at different levels of disposable income.
Correct answer: Consumption schedule- A. Cyclical deficit
- B. Annual deficit
- C. Anticipated deficit
- D. None
Explanation: A cyclical deficit arises during a recession because lower incomes and profits reduce tax collections while government support spending…
Correct answer: Cyclical deficit- A. Economic principle
- B. Economic policy
- C. Economic phenomena
- D. Economic rationale
Explanation: An economic policy is a planned course of action used by authorities to correct an economic problem or achieve a desired objective.
Correct answer: Economic policy- A. Increasing cost industry
- B. Decreasing cost industry
- C. None of these
- D. Declining industry
Explanation: A declining industry faces persistent negative economic profits, causing firms to leave and total industry output to fall.
Correct answer: Declining industry- A. Direct foreign investment
- B. Discrimination
- C. Profit maximization rule
- D. Economies of scale
Explanation: Direct foreign investment occurs when firms from one country establish or acquire productive facilities, such as factories, in another…
Correct answer: Direct foreign investment