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WorksheetsQUIZ 1- Intro to Ag Econ 1
Total questions: 15
Worksheet time: 8mins
Agricultural Economics define as:
Dismal Science
Applied to social condition in Agriculture
Scarcity
Social Science
The term Ceteris paribus define as:
All other things held constant
Limited
Scarcity
Social behavior
Economics may defines as:
How to allocate family income
Social Interactions
Maximize profit
How resources used to produce goods and services
Two Greek words for economics
Oiko Nomu
Oiko Nomus
Oikos Nomu
Oikos Nomus
He define Economics is a dismal science
Alfred Marshall
Lionell Roubins
Thomas Carlyle
W. Stantey Jevons
In Economics, Scarcity basically refers to:
Monopolization of existing supplies of goods
Monopolization of resources to produce goods
Monopolization of outlets to sell goods
None of the above
Economics differs from others sciences because it focus on
Scarcity
Social choices
Social Interaction
Social behavior
Which of the following best describe the term Opportunity cost
Benefits derived from goods or service
Price paid for goods and service
Relationship between 2 variables
The value of best forgone alternatives
Which of the following is the most basic of the subjects with which the study of economics must seek to deal with?
Markets
Money
Profit
Scarcity
Which of the following is under a normative statement
If price controls are removed the energy shortage
Minimum wages causes unemployment
Price controls on oil & gasoline are only fair
None of the above
Which of the following is not belong to economic goal
Equity
Efficiency
Equal
Price Stability
Producing any given level of output at minimum opportunity cost of the inputs used in production
Equity
Efficiency
Economic freedom
Economic stability
Which of the economic goal discuss on the an equitable distribution of wealth and income
Equity
Efficiency
Scarcity
Price stability
The economic problem what to produce refers to:
The amount and types of commodities produced in an economy
The beneficiaries from the choices made in the society
The tastes and preferences of economic agents
The way which resources are combined in order to produce the commodities
The economic problem how to produce refers to:
Amount and types of commodities produced in the economy
Beneficiaries of choices made in the society
Taste and preferences of the economic agents
The way resources are combined in order to produce the commodities
