Preface The foremost objective of this book is to help the students of B.Sc., M.Sc. for JRF, SRF, ICAR NET, UGC NET, ARS, other competitive examination related to subject to quickly grasp the facts comprehensively. Present book is a collection and compilation work from various sources and has been endeavoured to include as much information as could be possible. It is realized that the coverage of material in this book is likely to be far from complete as the information available in the Agricultural Economics is enormous. In present book, we have covered multiple choice questions, contributions of economists, glossary of each sub subject of economics and abbreviations to success with limited time in various competitive examinations. Authors would like to express gratitude to Dr. A.K. Singh, Vice-Chancellor of Bihar Agricultural University, Sabour, Prominent Professor, Dr Chandra Sen, Department of Agricultural Economics, Banaras Hindu University, Varanasi and Dr. Saket Kushwaha, former Vice-Chancellor of Lalit Narayan Mithila University, Darbhanga for their continous support and useful comments. Finally, we must record our grateful obligations to NIPA, New Delhi for keeping patient and giving this opportunity to us. Any errors and omissions found in this book will be entirely those of the authors. We welcome constructive suggestions from the readers for the improvement of the book. Each and every suggestion and criticism for this effort is most welcome and will give an opportunity to remove the short-comings.

1.    The word “economics” has been derived from the Greek word_______ which means household management? (a) OIKONOMICAS (b) OIKOS (c) NOMOS (d) OICONOMICAS 2.    The term “microeconomics” has been derived from a Greek word ____________. (a) MICROS (b) MIKROS (c) MACROS (d) MACROS

1.    The term “macroeconomics” has been derived from a Greek word? (a) MICROS (b) MIKROS (c) MAKROS (d) MACROS 2.    Who coined the term ‘macro economics’? (a) A. Smith (b) Samuelson (c) A. Marshall (d) Ragner Frish

1.    A farm is a (a) Producing unit (b) Consuming unit (c) Both of a & b (d) None of these 2.    Farm is a_________unit. (a) Economic (b) Social (c) Decision making (d) All of these

1.    A series of activities involved in moving the agricultural goods and services from production point to ultimate consumers is known as– (a) Agricultural marketing (b) Agricultural selling (c) Marketing (d) Agricultural finance 2.    The study of all the activities, agencies and policies involved in the procurement of farm inputs by the farmers and the movement of agricultural products from the farm to consumers is known as :– (a) Personal selling (b) Agricultural marketing (c) Rural marketing (d) None of these

1.    ___________means studying, examining and analyzing the financial aspects are pertaining to farm business. (a) Agricultural finance (b) Finance management (c) Accounting management (d) All of these 2.    Agricultural finance deals with the :– (a) Acquisition of fund (b) Use of fund (c) Management of funds (d) All of these

1.    Normally economic growth refers to ___________. (a) Growth in actual nominal per capita output (b) Growth in potential real per capita output (c) Growth in actual real per capita output (d) Growth in potential real per capita output 2.    Which one of the following is not true about economic development? (a) Problem of under developed country (b) Its discontinuous and spontaneous change (c) It means more output only (d) Its innovative process

1.    The first step in an econometric study should be to___________. (a) Develop the specification (b) Collect the data (c) Review the literature (d) Estimate the unknown parameters 2.    OLS stands for what in Econometrics? (a) Optimally linearized solution (b) There is no such thing in econometrics (c) Ordinary least squares (d) None of these

1.    Operations Research provides ___________. (a) Earliest solution (b) Feasible solutions (c) Scientific approach to solutions (d) Statistical approach to solutions 2.    Operations Research totally eliminates ___________. (a) Quantitative approach (b) Intuitive approach (c) Qualitative approach (d) Decision makers ability

1.    Thomas Malthus suggested that population growth _____________. (a) Would eventually lead to starvation and death as it exceeded the land’s potential to produce food (b) Would lead to strong and better societies (c) Would grow at a slower rate than land’s potential to produce food (d) And the land’s potential to produce food would grow at the same rate 2.    Which population growth rate is likely to add relatively more to younger age population (youth effect on size of labour force)? (a) Larger (b) Smaller (c) Uncertain (d) Population growth rate does not affect the age structure of population

1.    The concept of agribusiness was born in Harvard University in the year____________. (a) 1947 (b) 1956 (c) 1967 (d) 2006 2.    In agriculture education system, the concept of “Agribusiness” was first time used by (a) John Davis (b) P F Drucker (c) Henery Foyal (d) F.W. Taylor

Appendix-1 Economists and Their Contributions