AEM251

Inputs that are substituted
at constant rate are called

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

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

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

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

Cost of raw materials and
wages of labour are
examples of

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

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

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

What are classified as
substitutes and
complementary in nature?

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

What breaks bulk
commodity in order to
satisfy many customers?

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

All these are types of
marginal returns except;

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

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

17. Another name for agarian is

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

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
--

s used to determine the
stage of overall production
process

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

Capital and classical
measures are proxy to

Storage, transportation and
processing are examples of
.. function

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

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

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

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

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

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

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

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

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

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

-- is the rate at which inputs
substitute for each other to
maintain a constant output

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

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

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

The condition where there
is no substitute of
commodity is called what?

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

What marketing function
describes what happens or
what can happen to a
product between the time of
production and time of
purchase by the final
consumer

Seasonality and
perishability are examples
of
--

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

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

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

All these are types of
income elasticity of supply
except;

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

are costs that do not vary
with the level of output

-- 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