This quiz works best with JavaScript enabled. Home > Economics > Agricultural Economics – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Agricultural Economics Quiz 3 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Low birth rate..... A) More developed. B) Less developed. C) Newly industrialized. D) None of above. Show Answer Correct Answer: A) More developed. 2. How introduced the First "Five" year plan in India? (year 1951) A) Mr. Jawaharlal Nehru. B) Mrs. Indira Gandhi. C) Mr. Atal Bihari Vajpayee. D) Dr. Manmohan Singh. Show Answer Correct Answer: A) Mr. Jawaharlal Nehru. 3. The undiscounted measure for choosing among the alternative projects A) Payback Period. B) NPV. C) B:C Ratio. D) IRR. Show Answer Correct Answer: A) Payback Period. 4. Genetically modified organisms (GMOs) and hybrid seeds are often associated with A) 1st Agricultural Revolution. B) 2nd Agricultural Revolution. C) 3rd Agricultural Revolution. D) Subsistence farming. Show Answer Correct Answer: C) 3rd Agricultural Revolution. 5. Why do some farms still profitable? A) True. B) Farm subsidies (money given to farms from government). C) On average, only about 16 percent of the farm income is from farming activities. D) Members of farm households increasingly hold jobs outside the farm (especially in winter when there is no farming being done). Show Answer Correct Answer: A) True. 6. The demand and supply changes over time in ag industry have..... A) All are correct. B) Increased the minimum efficient scale in agriculture and reduced crop prices (now tractors instead of horse and mule). C) Some producers have become more efficient; firms that are too small to take advantage of economies of scale get priced out of the market and their financial losses have resulted in a mass exodus of workers from the industry to other sectors of the economy. D) Large corporate firms, collectively called agribusiness, have emerged in some areas of farming. Show Answer Correct Answer: A) All are correct. 7. Agriculture also includes farm commodities (ex: raw materials that can be sold like copper). Agriculture also includes what: A) Raw materials like coffee. B) All are correct. C) Food products that are sold through restaurants or grocery stores. D) None of above. Show Answer Correct Answer: B) All are correct. 8. A place where people and machines join together to mass produce goods. A) Cartel. B) Corporation. C) Factory. D) Urbanization. Show Answer Correct Answer: C) Factory. 9. A rapid population growth during the 1900s contributed to the ..... aimed to increase food supplies to support the growing population. A) 1st Agricultural Revolution. B) 2nd Agricultural Revolution. C) 3rd Agricultural Revolution. D) 2nd Industrial Revolution. Show Answer Correct Answer: C) 3rd Agricultural Revolution. 10. Which of the following works to protect against the exploitation of agricultural labor? A) Fair trade. B) All agribusiness. C) Plantation farming. D) Suitcase farming. Show Answer Correct Answer: A) Fair trade. 11. What stage of Rostow's Development Index does technology first get introduced? A) 1-Traditional Society. B) 2-Preconditions of takeoff. C) 3-takeoff. D) 4-drive to maturaty. Show Answer Correct Answer: B) 2-Preconditions of takeoff. 12. What factors contribute to the decline in the agriculture industry? A) Supply of ag products has increased dramatically because of technological advances. B) Land that was once considered unsuitable for agriculture can now be farmed due to irrigation and other advances. C) Demand has increased much more slowly, especially in the United States. This is because demand is tied to population growth, which has not been rapid. D) All are correct statements. Show Answer Correct Answer: D) All are correct statements. 13. Typically, slash & burn agriculture leads to: A) Shifting cultivation. B) Plantation farming. C) Aquaculture. D) Pastoralism. Show Answer Correct Answer: A) Shifting cultivation. 14. There are some serious issues in the ag industry..... A) One major cause of the instability is the ag industry is dependence on world markets to export to. B) All are correct. C) It suffers frequently from short-run price. D) It suffers frequently from income instability, which may prevent firms from entering the market. Show Answer Correct Answer: B) All are correct. 15. Humans have obtained food in a variety of ways. Which method below emerged last? A) Hunting & gathering. B) Vegetative planting. C) Seed agriculture. D) The Colombian Exchange. Show Answer Correct Answer: D) The Colombian Exchange. 16. The technique to create farmland by burning or cutting the forest is called ..... A) Intensive farming. B) Lumbering. C) Subsistence farming. D) Slash and burn. Show Answer Correct Answer: D) Slash and burn. 17. A country that is mostly rural and engages in mainly primary level of economic activity is probably a A) Developed nation. B) Developing nation. C) Industrialized nation. D) Primary nation. Show Answer Correct Answer: B) Developing nation. 18. Forestry, lumbering, agriculture, hunting and fishing all are ..... economic activities. A) Secondary. B) Primary. C) Tertiary. D) Quaternary. Show Answer Correct Answer: B) Primary. 19. Sektor perikanan di Indonesia memiliki potensi sangat besar karena..... A) A. Teknologi yang dipakai nelayan sudah maju. B) B. Memiliki perairan dengan ombak yang besar. C) C. Wilayah perairan indonesia yang sangat luas. D) D. Memiliki keanekaragaman hayati laut yang melimpah. Show Answer Correct Answer: D) D. Memiliki keanekaragaman hayati laut yang melimpah. 20. Exports are products..... A) US sells to other countries. B) All are correct. C) Ex: US selling airplanes to Germany. D) Ex: US selling corn to China. Show Answer Correct Answer: C) Ex: US selling airplanes to Germany. ← PreviousNext →Related QuizzesAgricultural Economics Quiz 1Agricultural Economics Quiz 2Agricultural Economics Quiz 4Principles Of Agriculture Economics QuizProduction Economics Quiz 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books