AEM251

is the type of demand that
is used to classify goods
into luxurious necessities
and inferior goods

What is the acronym for
NAFPP?

describes the rate at which
inputs are transformed into
outputs

All these are concept of
economics except;

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

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

What are classified as
substitutes and
complementary in nature?

Inputs are classified as
substitutes and
--

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

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

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

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

-- 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

A technical relationship
between inputs and output
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?

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

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

All these are types of
marginal returns except;

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

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

Which of these
combinations of goods is
referred to as
complementary

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

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

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

Cost of raw materials and
wages of labour are
examples of

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

What is the desire backed
up with the ability to pay for
goods and services in
question thus, it is not a
wish?

28. Another name for agarian is

What function does not
exceed its peak 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|”.

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

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

When is the coefficient of
income elasticity of demand
positive?

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

What breaks bulk
commodity in order to
satisfy many customers?

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

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

are referred to as producer
goods or intermediate
products

Which of these refer to the
degree of responsiveness
of a proportionate change
in the quantity demanded of
a commodity to a
proportional change in the
price of a related
commodity?

are costs that do not vary
with the level of output

What type of function that
accomplishes marketing
process?

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

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

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

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

What is the derivative of the
demand and supply
function?

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

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

Returns to scale and
marginal returns are
parameters of

All these are factors
influencing the supply of a
commodity except;