Agricultural Economics MCQs

The agriculture sector of Pakistan generates _______________ % of employment.

• 39.0

• 40.5

• 42.0

• 43.5

What is the term used for the value of the best alternative that is forgone as a result of a decision?

• Total cost

• Marginal cost

• Average cost

• Opportunity cost

When were the first agriculture reforms introduced in Pakistan?

• June 24, 1959

• January 24, 1956

• January 30, 1959

• January 24, 1959

The word 'Economics' is derived from which language?

• Latin

• Arabic

• Greek

• Persian

Economics deals with:

• Natural Sciences

• Arts only

• Social Sciences

• Mathematical Theories

What does microeconomics study?

• International trade

• Unemployment

• Individual economic units like households and firms

• GDP and inflation

What does macroeconomics study?

• Business firms only

• Market structures

• Localized industries

• GDP, inflation, unemployment

Agricultural economics mainly deals with:

• Climate studies

• Optimization of food and fiber production and distribution

• Animal husbandry

• Soil chemistry

Which of the following is NOT a basic human need?

• Food

• Branded clothes

• Shelter

• Clothes

Scarcity in economics means:

• Unlimited resources

• Balanced supply and demand

• Limited resources vs. unlimited wants

• Government restriction