AEM251

All these are concept of
economics except;

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

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

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

What breaks bulk
commodity in order to
satisfy many customers?

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

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

Cost of raw materials and
wages of labour are
examples of

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

What concept in supply that
is very important in
economic analysis?

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

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

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

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

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

Inputs are classified as
substitutes and
--

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

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

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

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

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

Seasonality and
perishability are examples
of
--

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

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

Returns to scale and
marginal returns are
parameters of

What type of function that
accomplishes marketing
process?

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

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

All these are different fields
of agricultural economics
except;

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

When is the coefficient of
income elasticity of demand
positive?

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

Which of these shows the
different combinations of
input which can be used to
produce a specific quantity
of output?

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

Storage, transportation and
processing are examples of
.. function

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

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

The line showing all the
different combinations of
factor inputs that a firm can
purchase, given the total
cost outlay of the firm and
input price is known as
what?

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

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

All these are types of
marginal returns except;

42. Another name for agarian is

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

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

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

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

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

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 concept of supply that
is very important in
economic analysis is
referred to as

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