Introduction to Agricultural Economics - JSS1 Agricultural science Past Questions and Answers - page 1
What is the primary focus of agricultural economics?
Biological aspects of crops
Economic aspects of agricultural activities
Environmental conservation in agriculture
Social aspects of rural communities
Which of the following is a key aspect of the historical development of agricultural economics?
Introduction of modern irrigation techniques
Adoption of sustainable farming practices
Evolution of agricultural policies and market systems
Implementation of advanced genetic engineering in crops
What role does agricultural economics play in economic systems related to agriculture?
It focuses solely on environmental conservation
It influences the distribution and utilisation of resources in agriculture
It determines crop yield and productivity
It regulates social and cultural practices in rural areas
Which economic principle in agriculture emphasises the idea that as more units of a resource are applied, the marginal return diminishes?
Law of Supply
Law of Demand
Law of Diminishing Marginal Returns
Law of Equilibrium
Why is understanding agricultural economics important for farmers and policymakers alike?
It has no impact on decision-making in agriculture
It helps optimise resource allocation and improve farm profitability
It focuses solely on environmental conservation
It discourages technological advancements in agriculture
What is a fundamental aspect of economic systems in agriculture?
Ignoring market dynamics
Centralised control of all agricultural activities
Efficient allocation of resources through market mechanisms
Eliminating private ownership of agricultural land
Which economic principle is associated with the relationship between the price of a good and the quantity demanded by consumers?
Law of Supply
Law of Diminishing Marginal Returns
Law of Demand
Law of Equilibrium
In agricultural economics, what does the Law of Supply state?
As the price of a good increases, the quantity supplied increases
As the price of a good increases, the quantity supplied decreases
As the price of a good decreases, the quantity supplied increases
As the price of a good decreases, the quantity supplied remains constant
How do economic principles guide decision-making in agricultural activities?
By ignoring market forces
By promoting resource wastage
By providing a framework for optimising resource use and profitability
By discouraging innovation in farming techniques
What is the significance of class discussions on the importance of agricultural economics?
It has no impact on students' understanding
It fosters critical thinking and awareness of economic challenges in agriculture
It discourages students from participating in economic activities
It solely focuses on theoretical concepts without practical relevance