AEM251

The technical relationship
between factor input and
output is referred to what?

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

is the function that organize
and directs all business
activities involved in
assessing and committing
consumer purchasing
power into effective
demand for a specific
product from final
consumers in order to make
profit

Returns to scale and
marginal returns are
parameters of

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

Storage, transportation and
processing are examples of
.. function

-- describes the
transformation of a given
input into a product

What are classified as
substitutes and
complementary in nature?

What is the summation of
individual demand
schedule?

Financing, production and
distribution of a given
commodity is a form of
..

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

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

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

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

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

What is a signal to
producers to expand or
contract their rate of
product?

- is only used for diagnostic
purpose where one basic
input is the limiting factor

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

Farmers operate small and
fragmented land holdings
due to
- system

What do you call a measure
of the degree to which
quantity demanded would
respond to any single
variable with respect to that
variable?

What type of function that
accomplishes marketing
process?

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

What is a measure of the
sensitivity of demand to
changes in income called?

What is the acronym for
NAFPP?

What is the process of
bargaining on the price of
the commodity between a
few sellers and a few
buyers?

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

What type of demand
occurs if a change in
demand of a commodity is
20% when the price change
is 10%?

All these are different fields
of agricultural economics
except;

All these are types of
income elasticity of supply
except;

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

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

The final products derived
from consumer goods are
referred to as what?

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

Isocline, ridgeline and
- are the basic terms in the
three stages of production
function under the factorfactor relationship

A situation where there are
just two sellers in an
oligopoly market is referred
to as

All these are concept of
economics except;

What is the major panacea
for the management of
economic problem?

are costs that do not vary
with the level of output

The activities involved in
the transfer of title to goods
are known as
.. Function

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

Which of these describe the
technologically efficient
methods of combining
inputs to produce output?

Salaries of administration
staff and rent in any
organization are an
example of

When is the coefficient of
income elasticity of demand
positive?

What is the derivative of the
demand and supply
function?

Inputs that are substituted
at constant rate are called

-- 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

The activities involved in
the transfer of goods are
referred to as
Function

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

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

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