AEM251

are costs that do not vary
with the level of output

Farmers operate small and
fragmented land holdings
due to
- system

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

When at a given time an
unlimited quantity of
product is demanded?

What type of function that
accomplishes marketing
process?

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

are major specialized
activity performed in
accomplishing the
marketing process

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

Stages I and II of the
production function are
uneconomical for
production. “True” or
“False”

What are boundaries for the
stages of production
function in the factor –
factor relationship?

Capital and classical
measures are proxy to

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

All these are types of
marginal returns except;

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

- was established by
government and mandated
to disseminate improved
agricultural practices to
farmers in the country

What measures the amount
of total output increase as
input increases?

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

Which of these
combinations of goods is
referred to as
complementary

Cost of raw materials and
wages of labour are
examples of

All these are different fields
of agricultural economics
except;

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

Power failure and
insufficient storage facilities
are factors that affect
-- of agricultural products

are boundaries for the
stages of production
function in the factor –
factor relationship

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

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?

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

Non – homogenous
commodity and preferential
treatment is an example of
-

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

Inputs that are substituted
at constant rate are called

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

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

Breaking of bulk commodity
is one of the functions of
--

What breaks bulk
commodity in order to
satisfy many customers?

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

are inputs that increases
outputs when consumed in
fixed proportions or
otherwise no output
production

Only two inputs are varied
under factor – factor
relationship. “True” or
“False”

Through what process does
the stage of overall
production process is
achieved?

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

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

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

-- function does not have
maximum but increases
indefinitely during
production

High and increase in cost of
production is an example of
technical problem in
Nigerian agricultural
production “True” or “false|”.

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

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

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

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

What is the summation of
individual demand
schedule?

What agency was
established by Nigerian
government to ensure that
more land and smallholder
hectares are intensified?

describes the rate at which
inputs are transformed into
outputs

What are classified as
substitutes and
complementary in nature?