AEM251

Agricultural production
function is used to in
determining enterprise
combination. “True” or
“False”

- are conditions that are
present in markets where
buyers and sellers interact
to establish prices and
exchange goods and
services

The process whereby the
self – interest of buyers and
sellers stimulate the needs
of people is known as
what?

What is the acronym for
NAFPP?

Seasonality and
perishability are examples
of
--

serves as a lubricant in
enabling distribution to work
smoothly and preventing
the development of
bottlenecks

What product requirement
enhances easy
transportation of a
commodity from one place
to another?

Which of these
combinations of goods is
referred to as
complementary

-- is the process of
satisfying human needs by
bringing precuts to people
in the proper form at the
appropriate time and place
they need the products

What clears the amount of
commodity supplied and
demanded in given market?

The common algebraic
forms of production function
are linear, semi log cobb
Douglas, and

s when a commodity in a
perfect market should be
capable of being easily
transported from one part of
the market to another.

What aspect of social
science that aid in the
process of producing,
exchanging and Consuming
of goods and services?

The type of agricultural
production function that are
derived from experiments in
crop and livestock is known
as

The line showing all the
different combinations of
factor inputs that a firm can
purchase, given the total
cost outlay of the firm and
input price is known as
what?

Capital and classical
measures are proxy to

Returns to scale and
marginal returns are
parameters of

What is the elasticity
measurement if the
changes in both quantity
and the factors of interest at
large?

What are the conditions
that must be present in
markets where buyers and
sellers meet to fix prices
and exchange goods and
services?

- was established by
government to construct
dams and bore holes in
rural communities of the
country

- are either convex to the
origin of slopes from left to
right of a production stage

What is the measure of
responsiveness of quantity
demanded of a product
relative to its own price?

Agricultural production
function guides farmers in
decision making. “True” or
“False

The transformation of
inputs into marketable
output is referred to what?

The plotting of the price of a
commodity on the vertical
axis against the quantities
supplied on the horizontal
axis is known as what?

Activities that make it
possible for the smooth
performance of exchange
and physical function is
known as
. Function

In law of demand, the
quantity demanded of a
commodity increases as the
price does what?

What concept in supply that
is very important in
economic analysis?

What is used to ration
goods among prospective
buyer in the market?

What breaks bulk
commodity in order to
satisfy many customers?

function is very simple,
easy to work with and
commonly taught for
academic exercise in
agricultural production
function

What is the ratio of the
percentage change in the
quantity supplied to the
percentage change in its
price referred to?

are costs that do not vary
with the level of output

Which of these shows the
different combinations of
input which can be used to
produce a specific quantity
of output?

What type of elasticity of
demand is used as a
planning tool to classify
goods as superior and
inferior goods?

What occurs in cross
elasticity of demand if two
commodities are
substitute?

is the process whereby
supply will not increase at
all and however much
prices of a commodity rises

What type of function
facilitates the smooth
performance of exchange
and physical function?

What is concerned with
planning, implementation
and control of the farm
business?

- is the stage of production
curve where the marginal
product less and average
product increases

Which production function
focuses on substitution of
inputs to achieve a constant
level of output?

are referred to as consumer
goods or final products

A condition where there is
no substitute of commodity
is known as
--

s used to determine the
stage of overall production
process

What is one of the major
negative factors that affect
the marketing of any
agricultural commodity?

A situation whereby no
trade name or trademarks
to distinguish the supply of
one another from that of
another is known as what?

Inputs that are substituted
at constant rate are called

A technical relationship
between inputs and output
is known as

Which of the following may
not be a factor that
determines the elasticity of
demand?

What do you arrange in
order of priority and
importance to satisfy
wants?