AEM251

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

Which of the following is not
a reason for the negative
slope of the demand curve?

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

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

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

All these are basic
determinants of income
elasticity of demand except;

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

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

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

Inputs that are substituted
at constant rate are called

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

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

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

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

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

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

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

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

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

What function does not
exceed its peak but
increases indefinitely during
production

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

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

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 referred to as producer
goods or intermediate
products

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

The process of creating
goods and services for the
satisfaction of human wants
is known as what?

What type of function that
accomplishes marketing
process?

Storage, transportation and
processing are examples of
.. function

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

Fertilizers, agrochemicals,
and seeds used in farming
activities is referred to as

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

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

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

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

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

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

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

are costs that do not vary
with the level of output

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

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

What relationship occurs
when the price and
quantities demanded of a
commodity in a given
market?

Which of these
combinations of goods is
referred to as
complementary

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

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

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

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

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

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

describes the rate at which
inputs are transformed into
outputs

A technical relationship
between inputs and output
is known as