7/3/23, 10:50 PM
Agricultural Economics and Marketing Quiz 1
Agricultural Economics and Marketing
Quiz 1
* Indicates required question
1.
Email *
2.
Which of the following is NOT a factor of production in agriculture? *
1 point
Mark only one oval.
Land
Labor
Capital
Intelligence
3.
The law of supply states that: *
1 point
Mark only one oval.
As price increases, quantity supplied decreases
As price increases, quantity supplied increases
As price decreases, quantity supplied decreases
As price decreases, quantity supplied increases
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4.
Agricultural Economics and Marketing Quiz 1
The law of demand states that: *
1 point
Mark only one oval.
As price increases, quantity demanded decreases
As price increases, quantity demanded increases
As price decreases, quantity demanded decreases
As price decreases, quantity demanded increases
5.
When the price of a good is higher than the equilibrium price, there is: *
1 point
Mark only one oval.
surplus
shortage
perfect competirion
price stability
6.
The concept of elasticity measures: *
1 point
Mark only one oval.
The responsiveness of quantity demanded to changes in price
The responsiveness of quantity supplied to changes in price
The responsiveness of demand to changes in income
The responsiveness of supply to changes in income
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7.
Agricultural Economics and Marketing Quiz 1
Which of the following is not a characteristic of a perfectly competitive
* 1 point
market?
Mark only one oval.
Many buyers and sellers
Homogeneous products
Barriers to entry
Price takers
8.
The measure of the additional output produced by using one more unit of
input is called:
* 1 point
Mark only one oval.
average product
marginal product
total product
total cost
9.
Which of the following is not a characteristic of a traditional economy? *
1 point
Mark only one oval.
Custom and tradition determine economic activities
Little room for innovation and change
Central planning and government control
Subsistence agriculture and self-sufficiency
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10.
Agricultural Economics and Marketing Quiz 1
The term "sustainable agriculture" refers to: *
1 point
Mark only one oval.
Farming practices that maintain the environment and natural resources
Large-scale industrial farming operations
The use of genetically modified organisms (GMOs)
Intensive use of chemical fertilizers and pesticides
11.
The term "subsistence agriculture" refers to: *
1 point
Mark only one oval.
Farming for self-consumption with little or no surplus for sale
Large-scale commercial farming operations
Intensive use of technology and capital in agriculture
Government intervention and control of agricultural markets
12.
Which of the following is not a factor that influences the price elasticity of
demand?
* 1 point
Mark only one oval.
Availability of substitutes
Necessity of the good
Consumer income
Time horizon
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13.
Agricultural Economics and Marketing Quiz 1
The term "market equilibrium" refers to: *
1 point
Mark only one oval.
The point at which quantity demanded exceeds quantity supplied
The point at which quantity supplied exceeds quantity demanded
The point at which quantity demanded equals quantity supplied
The point at which price is highest
14.
Which of the following is not a type of market structure? *
1 point
Mark only one oval.
Perfect Competition
Monopoly
Oligopoly
Price Discrimination
15.
The term "market failure" refers to: *
1 point
Mark only one oval.
The inability of markets to allocate resources efficiently
The failure of prices to accurately reflect the cost of production
The lack of competition in a market
The interference of government in market activities
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16.
Agricultural Economics and Marketing Quiz 1
The measure of the additional utility gained from consuming one more unit
* 1 point
of a good is called:
Mark only one oval.
marginal utility
marginal rate of substitution
marginal cost
marginal revenue
17.
The term "perfect competition" refers to: *
1 point
Mark only one oval.
A market structure with a single seller and many buyers
A market structure with a few large firms dominating the industry
A market structure with many buyers and sellers, homogeneous products, and ease
of entry
A market structure with differentiated products and barriers to entry
18.
The term "monopoly" refers to: *
1 point
Mark only one oval.
A market structure with a single seller and many buyers
A market structure with a few large firms dominating the industry
A market structure with many buyers and sellers, homogeneous products, and ease
of entry
A market structure with differentiated products and barriers to entry
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19.
Agricultural Economics and Marketing Quiz 1
Which of the following is not a characteristic of a command economy? *
1 point
Mark only one oval.
Central planning and government control
Limited individual freedom and choice
Market-driven resource allocation
Equal distribution of resources
20.
The term "monopsony" refers to: *
1 point
Mark only one oval.
A market structure with a single seller and many buyers
A market structure with a few large firms dominating the industry
A market structure with a single buyer and many sellers
A market structure with differentiated products and barriers to entry
21.
The term "tariff" refers to: *
1 point
Mark only one oval.
A tax imposed on the production or sale of a particular good
Financial assistance provided by the government to support a specific industry or
activity
The maximum price set by the government for a good or service
The minimum price set by the government for a good or service
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22.
Agricultural Economics and Marketing Quiz 1
Which of the following is a measure of productivity in agriculture? *
1 point
Mark only one oval.
Market price of agricultural products
Total revenue of agricultural producers
Government subsidies for agricultural inputs
Yield per hectare
23.
Which of the following is not a measure of farm profitability? *
1 point
Mark only one oval.
Gross farm income
Net farm income
Return on investment
Market price of agricultural inputs
24.
The term "agricultural marketing" refers to: *
1 point
Mark only one oval.
The use of technology and machinery in agricultural production
The process of bringing agricultural products from the farm to the consumer
The management of agricultural resources and inputs
The development of new agricultural practices and techniques
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25.
Agricultural Economics and Marketing Quiz 1
Which of the following is not a characteristic of a mixed economy? *
1 point
Mark only one oval.
Coexistence of private and public ownership of resources
Government intervention and regulation of markets
Central planning and control of economic activities
Individual freedom and choice in economic decision-making
26.
Economics is based on 2 fundamental facts. These are: *
1 point
Mark only one oval.
consumers would like to maximize their satisfaction while producers would like to
maximize profit
resources are scarce while human wants are unlimited
family income is limited while goods and services are limited
resources are scarce
27.
Known as the father of Modern economics *
1 point
Mark only one oval.
John Maynard Keynes
Karl Marx
Adam Smith
Thomas Aquinas
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28.
Agricultural Economics and Marketing Quiz 1
The economic system under which private individuals and businesses carry * 1 point
on the production and exchange of goods and services through a network
of markets
Mark only one oval.
mercantilism
capitalism
socialism
communism
29.
What does the term "agribusiness" refer to? *
1 point
Mark only one oval.
The economic activities related to farming and agricultural production
The government policies regulating the agricultural sector
The process of agricultural research and development
The collective activities of farmers' organizations
30.
What is the purpose of agricultural subsidies? *
1 point
Mark only one oval.
To increase agricultural exports
To promote sustainable farming practices
To support farmers by reducing production costs
To regulate agricultural trade policies
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31.
Agricultural Economics and Marketing Quiz 1
Which of the following is an example of a non-renewable resource in
agricultural production?
* 1 point
Mark only one oval.
fertilizers
water
land
sunlight
32.
What is the purpose of market promotion in agricultural marketing? *
1 point
Mark only one oval.
To increase agricultural production
To enhance the quality of agricultural products
To create awareness and demand for agricultural products
To regulate agricultural trade policies
33.
What does the term "price floor" refer to in agricultural economics? *
1 point
Mark only one oval.
The maximum price that can be charged for agricultural products
The minimum price that can be charged for agricultural products
The price difference between wholesale and retail agricultural products
The average price of agricultural products in the international market
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34.
Agricultural Economics and Marketing Quiz 1
What is the purpose of market research in agricultural marketing? *
1 point
Mark only one oval.
To determine the cost of agricultural production
To analyze the profitability of agricultural enterprises
To identify consumer preferences and market trends
To regulate agricultural trade policies
35.
What is the purpose of market segmentation in agricultural marketing? *
1 point
Mark only one oval.
To determine the demand and supply of agricultural products
To identify the target market for specific agricultural products
To establish price controls in agricultural markets
To regulate the quality standards of agricultural products
36.
Which of the following is a characteristic of an monopoly market structure in * 1 point
agricultural economics?
Mark only one oval.
Many small producers and buyers
A single dominant seller in the market
Easy entry and exit of firms in the market
Homogeneous products offered by multiple sellers
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37.
Agricultural Economics and Marketing Quiz 1
Which of the following is an example of a direct marketing channel in
agriculture?
* 1 point
Mark only one oval.
Farmer selling produce to a wholesaler
Farmer selling produce at a local farmers market
Farmer selling produce to a food processing company
Farmer selling produce to a retailer
38.
Which of the following best describes a price ceiling in agricultural
marketing?
* 1 point
Mark only one oval.
The maximum price that can be charged for agricultural products
The minimum price that can be charged for agricultural products
The price at which demand and supply are in equilibrium
The average price of agricultural products in the market
39.
Which of the following is NOT a function of agricultural marketing? *
1 point
Mark only one oval.
pricing
promotion
transportation
harvesting
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40.
Agricultural Economics and Marketing Quiz 1
What refers to the total value of all final goods and services produced within * 1 point
a country in a given period?
Mark only one oval.
Gross Domestic Product (GDP)
Gross National Product (GNP)
Net National Product (NNP)
Net Domestic Product (NDP)
41.
Which of the following factors is NOT considered in supply analysis? *
1 point
Mark only one oval.
Price of inputs
Technology
Government policies
Consumer preferences
42.
What is the term used to describe the change in demand for a product due * 1 point
to a change in its price?
Mark only one oval.
Income elasticity of demand
Cross-price elasticity of demand
Demand elasticity coefficient
Price elasticity of demand
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43.
Agricultural Economics and Marketing Quiz 1
Which of the following is an example of a marketing cooperative? *
1 point
Mark only one oval.
Land Bank of the Philippines
Philippine Rice Research Institute
National Federation of Sugarcane Planters
Department of Agriculture
44.
What is the term used to describe the system of market relationships
between buyers and sellers?
* 1 point
Mark only one oval.
supply chain
value chain
distribution network
marketing channel
45.
Which of the following is an example of a non-price competition strategy? *
1 point
Mark only one oval.
Offering discounts and promotions
Lowering the product price
Improving product quality
Increasing advertising expenditure
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46.
Agricultural Economics and Marketing Quiz 1
Which of the following is a pricing strategy that involves setting the price
* 1 point
just below the next whole number to make it more appealing to consumers?
Mark only one oval.
Cost-based pricing
Psychological pricing
Penetration pricing
Skimming pricing
47.
In economics, the term used to describe the persistent increase in the
general price level
* 1 point
Mark only one oval.
flux
inflation
interest
deflation
48.
refers to the exchange of goods and services between one country and the * 1 point
other countries
Mark only one oval.
domestic trade
international trade
barter trade
expo- Filipino trade
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49.
Agricultural Economics and Marketing Quiz 1
It is an economic system characterized by the public ownership of property * 1 point
resources and collective determination of economic decisions through
central economic planning.
Mark only one oval.
fascism
communism
capitalism
mercantilism
50.
The difference between total revenue and total cost : *
1 point
Mark only one oval.
breakeven price
marginal revenue
profit
variable cost
51.
It is termed as the arena for exchange between the buyer and seller *
1 point
Mark only one oval.
assembly centers
market
stock exchange
public auction
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