Introduction to Agricultural Economics - JSS2 Agricultural science Past Questions and Answers - page 1
Which branch of economics specifically focuses on the economic aspects of agriculture?
Microeconomics
Macroeconomics
Agricultural Economics
Environmental Economics
What is the primary focus of agricultural economics?
Distribution of wealth
Analysis of agricultural policies
Production and distribution of agricultural goods
Stock market trends and services
What concept in agricultural economics refers to the allocation of limited resources among competing uses?
Opportunity cost
Resource allocation
Elasticity
Market equilibrium
Which economic concept in agriculture involves assessing the additional benefits and costs associated with small changes in agricultural activities?
Elasticity
Opportunity cost
Market equilibrium
Marginal analysis
What principle describes the relationship between the quantity of a good demanded by consumers and the quantity supplied by producers?
Law of demand and supply
Law of diminishing returns
Law of elasticity
Law of scarcity
Which economic principle helps predict how changes in market conditions will affect the quantity demanded and supplied of agricultural products?
Profit maximisation
Elasticity
Law of demand and supply
Law of diminishing returns
What term refers to the value of the next best alternative foregone when a decision is made?
Elasticity
Opportunity cost
Marginal analysis
Resource allocation
Which technique involves removing moisture from crops to prevent spoilage and extend shelf life?
Canning
Milling and grinding
Freezing
Drying
What is the primary goal of value addition in agriculture?
To increase resource allocation
To improve agricultural products
To reduce market demand
To decrease profit maximisation
Which technique involves sealing food in airtight containers to preserve freshness?
Drying
Canning
Milling and grinding
Freezing