Description : What is AGMARK? (1) It is a marketing seal issued on the graded agricultural commodity (2) It stands for agricultural marketing (3) It represents agricultural management and regulation (4) None of these
Last Answer : (2) It stands for agricultural marketing Explanation: AGIVIARK is a certification mark employed on agricultural products in India, assuring that they conform to a set of standards approved by the ... Pulses, Cereals, Essential Oils, Vegetable Oils, Fruits & Vegetables, and semi-processed products.
Description : Agricultural Commodities are graded with – (1) ISI (2) Eco-products (3) AGMARK (4) Green Product
Last Answer : (3) AGMARK Explanation: AGMARK is a certification mark employed on agricultural products in India, assuring that they con-form to a set of standards approved by the Director-ate of Marketing and ... India by the Agricultural Produce (Grading and Marking) Act of 1937 (and ammended in 1986).
Description : ATMA stands for a. Agricultural Technology Management Agency b. Agricultural Technology Management Authority c. Agricultural Technology Mission Authority d. None of these
Last Answer : Agricultural Technology Management Agency
Description : AGMARK is a guarantee of standard: (1) quality (2) quantity (3) weight (4) size
Last Answer : (1) quality Explanation: The present AGMARK standards cover quality guidelines for 205 different agricultural commodities spanning a variety of Pulses, Cereals, Essential Oils, Vegetable Oils, Fruits & Vegetables, and semiprocessed products.
Description : AGMARK is established in the year ? a. 1937 b. 1957 c. 1968 d. 1950
Last Answer : c. Milking stage
Description : AGMARK is a guarantee of standard : (1) quality (2) quantity (3) weight (4) size
Last Answer : quality
Description : APEDA stands for :- a. Agricultural and Processed Food Products Export Development Authority b. Agricultural and Processed Food Products Export Development Act c. Agricultural and ... Export Development Appellate d. Agricultural and Processed Food Products Export Development association
Last Answer : a. Agricultural and Processed Food Products Export Development Authority
Description : A certificate under seal, bearing a registration number, issued to an individual, by the PRC, upon recommendation by the BOA, signifying that the individual has complied with all the ... accreditation b. Certificate of registration c. Certificate of quality review d. Certificate of identification
Last Answer : Certificate of registration
Description : Which of the following is a currency established as money by government regulation or law but it is not backed by any commodity, such as gold, silver etc., but only by the faith of the bearer? A. Commodity Money B. Representative Money C. Fiat Money D. fiduciary currency E. None of the Above
Last Answer : C. Fiat Money Explanation: Fiat money is currency that a government has declared to be legal tender, but it is not backed by a physical commodity.
Description : Paper Money issued on the credit of a bank or government is called ______ A. Commodity Money B. Representative Money C. Fiat Money D. Fiduciary currency E. None of the Above
Last Answer : D. Fiduciary currency Explanation: Fiduciary Money that depends for its value on confidence that it is an accepted medium of exchange. It originated as a paper certificate that was a promise to pay a certain amount of gold or silver to the bearer.
Description : Which of the following statements is correct? (A) Uniformity coefficient represents the shape of the particle size distribution curve. (B) For a well graded soil, both uniformity coefficient and coefficient of ... if it has most of the particles of about the same size (D) None of the above
Last Answer : Answer: Option D
Description : The gradation and standardization of agricultural products are conducted through (1) Food Corporation of India (2) Directorate of Marketing and Inspection (3) Indian Standards Institution (4) Central Statistical Organization
Last Answer : (2) Directorate of Marketing and Inspection Explanation: The Directorate of Marketing and Inspection (DMI) is an attached Office of the Ministry of Agriculture. It was set up in the year ... country. It is entrusted with promotion of standardization and grading of agricultural and allied produce.
Description : The gradation and standardisation of agricultural products are conducted through (1) Food Corporation of India (2) Directorate of Marketing and Inspection (3) Indian Standards Institution (4) Central Statistical Organisation
Last Answer : Directorate of Marketing and Inspection
Description : National commodity and Derivatives Exchange Ltd(NCDEX)unvielef India’sfirst agricultural commodities options in a.Guar seed b.chickpea c.Pigeonpead.Paddy
Last Answer : a.Guar seed
Description : Which of the following is a branch of agricultural science which deals with principles and practices of soil, water and crop management. What is the name of the branch? a. Crop production b. Agricultural engineering c. Home Science d. Agronomy
Last Answer : d. Agronomy
Description : Which among the following deals with that branch of agricultural economics which is mainly about the business principles and interests of farming? a. Agriculture management b. Business management c. Economy management d. Farm management
Last Answer : d. Farm management
Description : Write a short note on ISI and AGMARK. -SST 10th
Last Answer : ISI: Indian Standards Institute. AGMARK: AG' is for agriculture and Mark' is for certification mark. Agmark: Food Products. ISI: Electrical Appliances and Industrial products. These are ... a product. These marks generate trust among the consumers regarding the good quality of a commodity.
Description : How does logo with letters ISI, Agmark or Hallmark help consumers ? -SST 10th
Last Answer : These logos help consumers to get assured of quality while purchasing the goods and services. These logos are the symbols of trust, confidence and goodwill of the product.
Last Answer : These are logos and certifications which help consumers get assured of quality while purchasing goods and services. The organisations that monitor and issue these certificates allow producers to use their ... it is mandatory on the part of the producers to get certified by these organisations.
Description : Central AGMARK Lab is located at
Last Answer : Ans. Nagpur
Description : AGMARK Act was passed in
Last Answer : Ans. 1937
Description : The scheme of mobile food testing laboratory called “Food safety on wheel”has been rolled out by a.ICAR b.FSSAI c.NABARD d.AGMARK
Last Answer : b.FSSAI
Description : When price of a substitute of commodity falls, the demand for - (1) falls (2) remains unchanged (3) increases at increasing rate (4) rises
Last Answer : (1) falls Explanation: Cross Price Effect refers to effect on the demand for a given commodity due to a change in the price of a substitute commodity. A change (increase or decrease) in the ... the given commodity (tea) also decreases. It shifts the demand curve of the given commodity towards left.
Description : A demand curve will not shift: (1) When only income changes (2) When only prices of substitute products change (3) When there is a change in advertisement expenditure (4) When only price of the commodity changes
Last Answer : (4) When only price of the commodity changes Explanation: In economics, the demand curve is the graph depicting the relationship between the price of a certain commodity and the amount of it that ... only when there is a change in other determinants of demand, other than price of the commodity.
Description : The total utility from 9 units of commodity x is 20 and from 10 units is 15. Calculate the marginal utility from 10th unit. (1) 0.5 (3) 5 (2) -0.5 (4) -5
Last Answer : (4) -5 Explanation: Marginal Utility = Change in Total Utility / Change in number of Units consumed. The first component of the formula is to calculate the change in total utility. The second component of the marginal utility formula is the change in the number of units that have been consumed.
Description : )The demand of a commodity is a direct demand but the demand of a factor of production is called a - (1) Crossed demand (2) Joint demand (3) Derived demand (4) Independent demand
Last Answer : (3) Derived demand Explanation: In the words of McConnell, the demand for factors of production is a derived demand that is derived from the finished goods and services which resources help to produce. ... demand, demand for factors is derived demand. It is based on the productivity of the factors.
Description : Capital output ratio of a commodity measures - (1) its per unit cost of production (2) the amount of capital invested per unit of output (3) the ratio of capital depreciation to quantity of output (4) the ratio of working capital employed to quantity of output
Last Answer : (2) the amount of capital invested per unit of output Explanation: Capital Output Ratio is the ratio of capital used to produce an output over a period of time. This ratio has a tendency ... order to increase the output. When countries use their natural resources instead of capital then COR reduces.
Description : The market equilibrium for a commodity is determined by : (1) The market supply of the commodity. (2) The balancing of the forces of demand and supply for the commodity (3) (3) The intervention of the Government. (4) (4) The market demand of the commodity.
Last Answer : (2) The balancing of the forces of demand and supply for the commodity Explanation: Market Equilibrium is determined when the quantity demanded of a commodity becomes equal to the quantity ... equilibrium is known as equilibrium price and the corresponding quantity is known as equilibrium quantity.
Description : Excise duty on a commodity is payable with reference to its - (1) production (2) production and sale (3) production and transportation (4) production, transportation and sale
Last Answer : (1) production Explanation: An excise or excise tax (sometimes called a duty of excise special tax) is an inland tax on the sale, or production for sale, of specific goods or a tax ... customs duties, which are taxes on importation. Excises are inland taxes, whereas customs duties arc border taxes.
Description : The value of a commodity expressed in terms of money is known as - (1) Price (2) Utility (3) Value (4) Wealth
Last Answer : (1) Price Explanation: The exchange value of every commodity can be expressed in terms of money. This possibility has enabled money to become a medium for expressing values when the growing elaboration of ... . Thus, price can be defined as exchange value of a commodity expressed in terms of money.
Description : The term 'Dumping' refers to - (1) The sale of a substandard commodity (2) Sale in a foreign market of a commodity at a price below marginal cost (3) Sale in a foreign market of a commodity just at marginal cost with too much of profit (4) Smuggling of goods without paying any customs duty
Last Answer : (2) Sale in a foreign market of a commodity at a price below marginal cost Explanation: Dumping is an international price discrimination in which an exporter firm sells a portion of its out-put in ... , incurring loss in the foreign market (International Economics by M. Maria. John Kennedy, p.122).
Description : The price of a commodity is the same as (1) Average revenue (2) Total cost (3) Average cost (4) Total revenue
Last Answer : (1) Average revenue Explanation: Average Revenue refers to revenue received per unit of output sold. It is the same as Price of the commodity. Average revenue can be obtained by dividing the total revenue by the number of units sold.
Description : Elasticity of demand is the degree of responsiveness of demand of a commodity to a - (1) change in consumers' wealth (2) change in the price of substitutes (3) change in consumers' tastes (4) change in its price
Last Answer : (4) change in its price Explanation: The elasticity of demand, also known as price elasticity of demand, is the degree of responsiveness of demand to change in price. Its measure depends upon comparing ... demand is the ratio of percentage change in amount demanded to a percent-age change in price.
Description : 'Law of demand' implies that when there is excess demand for a commodity, then (1) price of the commodity falls (2) price of the commodity remains same (3) price of the commodity rises (4) quantity demanded of the commodity falls
Last Answer : (3) price of the commodity rises Explanation: The Law of demand states that the quantity demanded and the price of a commodity are inversely related, other things remaining constant. That is, if ... of the commodity the price starts rising and it continues to rise till equilibrium price is reached.
Description : Other things being equal, a decrease in quantity demanded of a commodity can be caused by – (1) a rise in the price of the commodity (2) a rise in the income of the consumer (3) a fall in the price of a commodity (4) a fall in the income of the consumer
Last Answer : (1) a rise in the price of the commodity Explanation: In economics, the law states that, all else being equal, as the price of a product increases, quantity demanded falls; likewise, as the price of a product decreases, quantity demanded increases.
Description : The difference between the price the consumer is prepared to pay for a commodity and the price which he actually pays is called (1) Consumer's Surplus (2) Producer's Surplus (3) Landlord's Surplus (4) Worker's Surplus
Last Answer : (1) Consumer's Surplus Explanation: Consumer surplus is the difference between the maximum price a consumer is willing to pay and the actual price they do pay. If a consumer would be willing to pay ... price, then they are getting more benefit from the purchased product than they spent to buy it.
Description : When the price of a commodity falls, we can expect - (1) the supply of it to increase (2) the demand for it to fall (3) the demand for it to stay constant (4) the demand for it to increase
Last Answer : (4) the demand for it to increase Explanation: In economics, the law of demand is an economic law, which states that consumers buy more of a good when its price is lower and less when its ... of good demanded by the consumer will be negatively correlated to the change in the price of the good
Description : The excess of price a person is to pay rather than forego the consumption of the commodity is called - (1) Price (2) Profit (3) Producers' surplus (4) Consumer's surplus
Last Answer : (3) Producers' surplus Explanation: Producer Surplus' is an economic measure of the difference between the amount that a producer of a good receives and the minimum amount that he or she would be ... or surplus amount, is the benefit that the producer receives for selling the good in the market.
Description : An indiference curve measures ______ level of satisfaction derived from different combinations of commodity X and Y. (1) same (2) higher (3) lower (4) minimum
Last Answer : (1) same Explanation: An indifference curve may be defined as the locus of points, each representing a different combination of two substitute goods, which yield the same utility or level of ... is indifferent between any two combinations of goods when it comes to making a choice between them.
Description : Excise duty on a commodity is payable with reference to its - (1) production (2) production and sale (3) production and transportations (4) production, transportation and sale
Last Answer : (1) production Explanation: Excise duty is a type of tax charged on goods produced within the country. In India, an excise tax is levied on the manufacturer of goods when those goods leave the place ... called the Central Excise duty, this tax is now known as the Central Value Added Tax (CENVAT).
Description : Production of a commodity mostly through the natural process is an activity of - (1) Primary Sector (2) Secondary Sector (3) Tertiary Sector (4) Technology Sector
Last Answer : (1) Primary Sector Explanation: The primary sector of the economy is the sector of an economy making direct use of natural resources. This includes agriculture, forestry, fishing, mining, and extraction of oil and gas.
Description : If the change in demand for a commodity is at a faster rate than change in the price of the commodity, the demand is - (1) perfectly inelastic (2) elastic (3) perfectly elastic (4) inelastic
Last Answer : (3) perfectly elastic Explanation: If quantity demanded changes by a very large percentage as a result of a tiny percentage change in price, then the demand is said to be perfectly elastic ... in this extreme case would be undefined but it approaches negative infinity as demand becomes more elastic.
Description : Opportunity cost of production of a commodity is - (1) the cost that the firm could have Incurred when a different technique was adopted (2) the cost that the firm could have incurred under a different method of production (3) the actual cost incurred (4) the next best alternative output
Last Answer : (4) the next best alternative output Explanation: The concept of opportunity cost is based on scar-city and choice. The opportunity cost of a commodity is the next best alternative commodity ... to produce alternative goods and services. If one commodity is produced another commodity is sacrificed.
Description : Ad Valorem tax is levied - (1) according to value added by the Government. (2) according to value addition to a commodity (3) according to value given by producers (4) according to value added by the finance ministry
Last Answer : (3) according to value given by producers Explanation: An ad valorem tax (Latin for "according to value") is a tax based on the value of real estate or personal property. It is more ... difficulty with such taxation, especially in the case of tariffs, is in establishing a satisfactory value figure.
Description : Demand of commodity mainly depends upon - (1) Purchasing will (2) Purchasing power (3) Tax policy (4) Advertisement
Last Answer : (2) Purchasing power Explanation: The demand of commodity mainly stems from the consumption capacity of the buyer. Demand is equal to desire plus ability to pay plus will to spend. Demand for a commodity depends upon number of factors called Determinants.
Description : The term utility means - (1) usefulness of a commodity (2) the satisfaction which a commodity yields (3) the service which a commodity is capable of rendering (4) None of these
Last Answer : (2) the satisfaction which a commodity yields Explanation: In economics, 'Utility,' refers to the total satisfaction received from consuming a good or service. It is usually applied by economists ... commodities that an individual or a society would accept to maintain a given level of satisfaction.
Description : The Marginal Utility Curve slopes downward from left to right indicating - (1) A direct relationship between marginal utility and the stock of commodity (2) A constant relationship between marginal ... stock of commodity (4) An inverse relationship between marginal utility and the stock of commodity
Last Answer : (4) An inverse relationship between marginal utility and the stock of commodity Explanation: The Marginal Utility Curve is a curve illustrating the relation between the marginal utility obtained from ... marginal (additional) benefit to the consumer falls; hence consumers are prepared to pay less.
Description : The Law of Demand expresses - (1) effect of change in price of a commodity on its demand (2) effect of change in demand of a commodity on its price (3) effect of change in demand of a commodity over the supply of its substitute (4) (4) None of the above
Last Answer : (1) effect of change in price of a commodity on its demand Explanation: The law of demand states the inverse relation that comes to exist of between price in one hand and quantity demanded on ... quantity demanded. In other words, the higher the price of a product, the lower the quantity demanded.
Description : Extension or contraction of quantity demanded of a commodity is a result of a change in the - (1) unit price of the commodity (2) income of the consutner (3) tastes of the consumer (4) climate of the region
Last Answer : (1) unit price of the commodity Explanation: Demand for a commodity refers to the quantity of the commodity that people are willing to purchase at a specific price per unit of time, other factors ... In other words, higher the price, lower the demand and vice versa, other things remaining constant.