Quiz on Dairy Industry

What is milk considered in terms of agriculture?

• A minor agricultural product

• A key agricultural commodity

• A non-agricultural item

• A luxury agricultural product

How does milk contribute to national income?

• Through entertainment and media

• Through production, consumption, and trade

• Through technology and innovation

• Through education and research

What aspects of the economy does the dairy industry impact?

• Technology, innovation, and research

• GDP, employment, and inflation

• Education, health, and welfare

• Transportation, infrastructure, and energy

Dairy farming is part of which sector?

• Manufacturing

• Agriculture

• Technology

• Retail

How does dairy manufacturing contribute to the national income accounting?

• By reducing industrial GDP

• By adding to industrial GDP

• By decreasing employment

• By increasing taxes

What type of jobs does the dairy industry create?

• Jobs in technology and software

• Jobs in farming, logistics, and retail

• Jobs in finance and banking

• Jobs in education and teaching

What is the formula for calculating national income using the income approach?

• Y = C + I + G + NX

• Y = W + R + I + P

• Y = P + C + T + S

• Y = A + B + C + D

In the income approach to national income, what does 'W' stand for?

• Wealth

• Wages

• Work

• Worth

What component of national income is associated with payments for land use?

• Wages

• Rent

• Interest

• Profits

Which component of national income involves loans for machinery and infrastructure?

• Wages

• Rent

• Interest

• Profits