AEM251





Category: AEM251

0

ATTENTION:

Kindly note that you will be presented with 50 questions randomized from the NOUN question bank. Make sure to take the quiz multiple times so you can get familiar with the questions and answers, as new questions are randomized in each attempt.

Good luck!


AEM251

1 / 50

1.

When is the coefficient of
income elasticity of demand
positive?

2 / 50

2.

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

3 / 50

3.

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

4 / 50

4.

What breaks bulk
commodity in order to
satisfy many customers?

5 / 50

5.

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

6 / 50

6.

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

7 / 50

7.

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

8 / 50

8.

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

9 / 50

9.

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

10 / 50

10.

What is referred to as a
process for distribution of
goods to marketers?

11 / 50

11.

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

12 / 50

12.

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

13 / 50

13.

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

14 / 50

14.

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

15 / 50

15.

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

16 / 50

16.

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

17 / 50

17.

Farmers operate small and
fragmented land holdings
due to
- system

18 / 50

18.

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

19 / 50

19.

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

20 / 50

20.

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

21 / 50

21.

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

22 / 50

22.

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

23 / 50

23.

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

24 / 50

24.

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

25 / 50

25.

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

26 / 50

26.

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

27 / 50

27.

are costs that do not vary
with the level of output

28 / 50

28.

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

29 / 50

29.

All these are types of
marginal returns except;

30 / 50

30.

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

31 / 50

31.

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

32 / 50

32.

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

33 / 50

33.

All these are concept of
economics except;

34 / 50

34.

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

35 / 50

35.

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

36 / 50

36.

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

37 / 50

37.

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

38 / 50

38.

Which of these
combinations of goods is
referred to as
complementary

39 / 50

39.

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

40 / 50

40.

The common algebraic
forms of production function
are linear, semi log cobb
Douglas, and

41 / 50

41.

A technical relationship
between inputs and output
is known as

42 / 50

42.

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

43 / 50

43.

Capital and classical
measures are proxy to

44 / 50

44.

Returns to scale and
marginal returns are
parameters of

45 / 50

45.

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

46 / 50

46.

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

47 / 50

47.

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

48 / 50

48.

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

49 / 50

49.

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

50 / 50

50.

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

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