Agriculture MCQs

Page No. 230

An involuntary payment of money to govt. by a household or firm for which the household or firm receives no good or services directly in return ?


aTariff

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bTax

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cTacit collusion

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dSubsidy

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View Answer Tax

An economic system in which property resources are privately owned and markets and prices are used to direct and coordinate economic activities________________?


aPure capitalism

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bCommand Economy

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cClosed economy

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dOpen economy

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View Answer Pure capitalism

A physical establishment which performs one or more functions in production, fabrication and distribution of goods and services ?


aPlant

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bFirm

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cFactory

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dNone

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View Answer Plant

Legally established maximum price of a good or service__________________?


aCeiling price

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bFloor price

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cMax price

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d None

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View Answer Ceiling price

A market in which money of one nation can be used to purchase the money of other nation is called____________________?


a Money market

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b International market

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c Foreign exchange market

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d All of these

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An organization which employs resources to produce a good or service for profit and own and operates one or more plants is called_______________?


aCompany

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bFactory

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cFirm

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dNone

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View Answer Firm

The monetary payment a firm must make to an outsider to obtain a resource____________________?


a Implicit cost

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bExplicit cost

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cNet cost

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dTotal cost

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View Answer Explicit cost

To charge different prices for the goods of the same standard is called___________________?


aPrices discrimination

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bPrices differentiation

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cOligopoly

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dPrices elasticity

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View Answer Prices discrimination

The total revenue of a film less all its economic costs is called_____________________?


aEconomy Profit

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bPure Profit

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cAbove normal Profit

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dAll these

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View Answer All these

An economic system in which property resources are publicly owned and govt uses central economic planning to direct & coordinate economic activities ?


aCommand economy

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bClosed economy

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cOpen economy

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dNone

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View Answer Command economy

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