AEM251

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

What is the acronym for
NAFPP?

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

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

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

describes the rate at which
inputs are transformed into
outputs

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

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

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

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

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

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

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

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

All these are types of
income elasticity of supply
except;

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

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

are costs that do not vary
with the level of output

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

Which of these
combinations of goods is
referred to as
complementary

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

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

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

Inputs that are substituted
at constant rate are called

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

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

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

What is the derivative of the
demand and supply
function?

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

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

A technical relationship
between inputs and output
is known as

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

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

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

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

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

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

Agricultural production
function is used to in
determining enterprise
combination. “True” or
“False”

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

When is the coefficient of
income elasticity of demand
positive?

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

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

What is the summation of
individual demand
schedule?

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

are referred to as producer
goods or intermediate
products

What is a signal to
producers to expand or
contract their rate of
product?

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

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

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

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?