Q1 The concept of supply that is very important in economic analysis is referred to as
Q2 is the process whereby supply will not increase at all and however much prices of a commodity rises
Q3
- are conditions that are present in markets where buyers and sellers
interact to establish prices and exchange goods and services
Q4 The type of agricultural production function that are derived from experiments in crop and livestock is known as
Q5 is the type of demand that is used to classify goods into luxurious necessities and inferior goods
Q6 function is very simple, easy to work with and commonly taught for academic exercise in agricultural production function
Q7 Agricultural production function guides farmers in decision making. “True” or “False
Q8 Returns to scale and marginal returns are parameters of
Q9 A technical relationship between inputs and output is known as
Q10 - is only used for diagnostic purpose where one basic input is the limiting factor
Q11 -- describes the transformation of a given input into a product
Q12 The stage where marginal product is less than zero and negative is
Q13 - is the stage of production curve where the marginal product less and average product increases
Q14 - is the stage of production curve where the marginal product less than the average product
Q15 Only two inputs are varied under factor – factor relationship. “True” or “False”
Q16 Stages I and II of the production function are uneconomical for production. “True” or “False”
Q17 - are either convex to the origin of slopes from left to right of a production stage
Q18 -- is the rate at which inputs substitute for each other to maintain a constant output
Q19 Inputs that are substituted at constant rate are called
Q20 are boundaries for the stages of production function in the factor – factor relationship
Q21 Isocline, ridgeline and - are the basic terms in the three stages of production function under the factor- factor relationship
Q22 are inputs that increases outputs when consumed in fixed proportions or otherwise no output production
Q23 Inputs are classified as substitutes and --
Q24 describes the rate at which inputs are transformed into outputs
Q25 Agricultural production function is used to in determining enterprise combination. “True” or “False”
Q26 The common algebraic forms of production function are linear, semi log cobb Douglas, and
Q27 -- function does not have maximum but increases indefinitely during production
Q28 is used to determine the stage of overall production process
Q29 Capital and classical measures are proxy to
Q30 are costs that do not vary with the level of output
Q31 Cost of raw materials and wages of labour are examples of
Q32 Salaries of administration staff and rent in any organization are an example of
Q33 What is the acronym for NAFPP?
Q34 - was established by government and mandated to disseminate improved agricultural practices to farmers in the country
Q35 - was established by government to construct dams and bore holes in rural communities of the country
Q36 High and increase in cost of production is an example of technical
problem in Nigerian agricultural production “True” or “false|”.
Q37 The activities involved in the transfer of goods are referred to as Function
Q38 What agency was established by Nigerian government to ensure that more land and smallholder hectares are intensified?
Q39 Farmers operate small and fragmented land holdings due to - system
Q40 Another name for agarian is
Q41 Storage, transportation and processing are examples of .. function
Q42 Activities that make it possible for the smooth performance of exchange and physical function is known as . Function
Q43 Fertilizers, agrochemicals, and seeds used in farming activities is referred to as
Q44 The activities involved in the transfer of title to goods are known as .. Function
Q45 Exchange, physical and facilitating are examples of function
Q46 What marketing function describes what happens or what can happen
to a product between the time of production and time of purchase by the
final consumer
Q47 are major specialized activity performed in accomplishing the marketing process
Q48 Power failure and insufficient storage facilities are factors that affect -- of agricultural products
Q49 Seasonality and perishability are examples of --
Q50
is the function that organize and directs all business activities
involved in assessing and committing consumer purchasing power into
effective demand for a specific product from final consumers in order to
make profit
Q51 -- is the
process of satisfying human needs by bringing precuts to people in the
proper form at the appropriate time and place they need the products
Q52 are referred to as producer goods or intermediate products
Q53 are referred to as consumer goods or final products
Q54 serves as a lubricant in enabling distribution to work smoothly and preventing the development of bottlenecks
Q55 Financing, production and distribution of a given commodity is a form of ..
Q56 Breaking of bulk commodity is one of the functions of --
Q57 A situation where there are just two sellers in an oligopoly market is referred to as
Q58 A condition where there is no substitute of commodity is known as --
Q59 Non – homogenous commodity and preferential treatment is an example of -
Q60 is when a commodity in a perfect market should be capable of being easily transported from one part of the market to another.
Q61 A situation whereby no trade name or trademarks to distinguish the
supply of one another from that of another is known as what?
Q62 Which production function focuses on substitution of inputs to achieve a constant level of output?
Q63 All these are types of marginal returns except;
Q64 What measures the amount of total output increase as input increases?
Q65 What is concerned with planning, implementation and control of the farm business?
Q66 What clears the amount of commodity supplied and demanded in given market?
Q67 What is the process of bargaining on the price of the commodity between a few sellers and a few buyers?
Q68 What is a signal to producers to expand or contract their rate of product?
Q69 What is used to ration goods among prospective buyer in the market?
Q70 All these are types of income elasticity of supply except;
Q71 All these are basic determinants of income elasticity of demand except;
Q72 What type of elasticity of demand is used as a planning tool to classify goods as superior and inferior goods?
Q73 What is the elasticity measurement if the changes in both quantity and the factors of interest at large?
Q74 What is the derivative of the demand and supply function?
Q75 All these are factors influencing the supply of a commodity except;
Q76 The plotting of the price of a commodity on the
vertical axis against the quantities supplied on the horizontal axis is
known as what?
Q77 What concept in supply that is very important in economic analysis?
Q78 What function does not exceed its peak but increases indefinitely during production
Q79 Through what process does the stage of overall production process is achieved?
Q80 What are classified as substitutes and complementary in nature?
Q81 What relationship occurs when the price and quantities demanded of a commodity in a given market?
Q82 In law of demand, the quantity demanded of a commodity increases as the price does what?
Q83 What is the summation of individual demand schedule?
Q84 What is the desire backed up with the ability to pay for goods and services in question thus, it is not a wish?
Q85 All these are different fields of agricultural economics except;
Q86 What aspect of social science that aid in the process of producing, exchanging and Consuming of goods and services?
Q87 What do you arrange in order of priority and importance to satisfy wants?
Q88 What is the major panacea for the management of economic problem?
Q89 All these are concept of economics except;
Q90 What are boundaries for the stages of production function in the factor – factor relationship?
Q91 What type of function facilitates the smooth performance of exchange and physical function?
Q92 What type of function that accomplishes marketing process?
Q93 What is one of the major negative factors that affect the marketing of any agricultural commodity?
Q94 The final products derived from consumer goods are referred to as what?
Q95 What is referred to as a process for distribution of goods to marketers?
Q96 What breaks bulk commodity in order to satisfy many customers?
Q97 The condition where there is no substitute of commodity is called what?
Q98 What product requirement enhances easy transportation of a commodity from one place to another?
Q99 The process whereby the self – interest of buyers and sellers stimulate the needs of people is known as what?
Q100 What are the conditions that must be present in
markets where buyers and sellers meet to fix prices and exchange goods
and services?
Q101 Which of the following is not a reason for the negative slope of the demand curve?
Q102 The line showing all the different combinations
of factor inputs that a firm can purchase, given the total cost outlay
of the firm and input price is known as what?
Q103 Which of these shows the different combinations of input which can be used to produce a specific quantity of output?
Q104 Which of these describe the technologically efficient methods of combining inputs to produce output?
Q105 The technical relationship between factor input and output is referred to what?
Q106 The process of creating goods and services for the satisfaction of human wants is known as what?
Q107 The transformation of inputs into marketable output is referred to what?
Q108 What is the ratio of the percentage change in the quantity supplied to the percentage change in its price referred to?
Q109 Which of the following may not be a factor that determines the elasticity of demand?
Q110 Which of these combinations of goods is referred to as complementary
Q111 What occurs in cross elasticity of demand if two commodities are substitute?
Q112 Which of these refer to the degree of
responsiveness of a proportionate change in the quantity demanded of a
commodity to a proportional change in the price of a related commodity?
Q113 When is the coefficient of income elasticity of demand positive?
Q114 What is a measure of the sensitivity of demand to changes in income called?
Q115 When at a given time an unlimited quantity of product is demanded?
Q116 What type of demand occurs if the change in demand of a commodity is 10% when the price change is 10%?
Q117 What type of demand occurs if the change in demand of a commodity is 10% when the price change is 20%?
Q118 What type of demand occurs if a change in demand of a commodity is 20% when the price change is 10%?
Q119 What is the measure of responsiveness of quantity demanded of a product relative to its own price?
Q120 What do you call a measure of the degree to
which quantity demanded would respond to any single variable with
respect to that variable?