AEM251

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

What are classified as
substitutes and
complementary in nature?

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

-- 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

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

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

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

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

Which of these
combinations of goods is
referred to as
complementary

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

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

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

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

A technical relationship
between inputs and output
is known as

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

All these are types of
marginal returns except;

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?

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?

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

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

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

The stage where marginal
product is less than zero
and negative is

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

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

Inputs that are substituted
at constant rate are called

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

Farmers operate small and
fragmented land holdings
due to
- system

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

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

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

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

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

are costs that do not vary
with the level of output

What is the acronym for
NAFPP?

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

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

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

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

What breaks bulk
commodity in order to
satisfy many customers?

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

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

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

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

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

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

All these are types of
income elasticity of supply
except;

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

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

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