What percentage of Pakistan’s GDP does agriculture contribute?
Correct answer C. 18.5
Topic / 49 questions
Agricultural economics MCQs
Agricultural Economics MCQs are questions that apply economic principles to farming, rural development and developing economies, covering development indicators, international trade, central banking, planning and poverty. They help agriculture students and candidates for Agriculture Officer, CSS, lecturer and ICAR AIEEA exams, and every question shows its answer instantly.
Which index measures national socio-economic development using life expectancy at birth, educational attainment and adjusted per capita income?
Correct answer D. Human development index
What is the currency of a major industrial country, such as the US dollar, called?
Correct answer C. Hard currency
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What is the responsiveness of the quantity demanded of a commodity to a change in consumer income, measured as the proportionate change in quantity divided by the proportionate change in income, called?
Correct answer B. Income elasticity of demand
What is the implicit change in real income, caused by a change in a commodity’s price, that affects the quantity demanded called?
Correct answer B. Income effect
What is the annual amount a borrower must pay a lender over and above the sum borrowed?
Correct answer C. Interest
Which part of the urban economy of LDCs is characterised by small competitive individual or family firms, labour-intensive methods, free entry, and market-determined factor and product prices?
Correct answer A. Informal sector
What is any system that sets one price for sellers and another for buyers called?
Correct answer A. Dual price system
What is a market in which a single seller produces and sells a product with no close substitutes called?
Correct answer C. Monopoly
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What are the activities of a central bank designed to influence financial variables such as the money supply and interest rates called?
Correct answer A. Monetary policy
What is the steady process by which an economy’s productive capacity increases over time, raising national output and income, called?
Correct answer A. Economic growth
What is the income available to households for spending and saving after personal income taxes are deducted called?
Correct answer A. Disposable income
What is the increasing integration of national economies into an expanding international market called?
Correct answer D. Globalisation
What is any financial institution that channels loanable funds from savers to borrowers called?
Correct answer D. Financial intermediary
What is the sum of interest payments and principal repayments on external public and publicly guaranteed debt called?
Correct answer B. Debt service
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What is a group of LDC debtors who join together to bargain collectively with creditors called?
Correct answer B. Debtors' cartel
What is it called when people appear to be fully employed but spend much of their time in unproductive activities?
Correct answer C. Disguised underemployment
What is the study of how economies move from stagnation to growth and from low-income to higher-income status called?
Correct answer D. Development economics
What is an economic plan that sets targets covering all the major sectors of the national economy called?
Correct answer B. Comprehensive plan
What is an agreement among sellers of a commodity to fix a common price or share the market called?
Correct answer B. Collusion
About Agricultural economics MCQs
This category blends agricultural economics with development economics. Questions cover cartels, central bank functions and monetary policy, the balance of payments, comprehensive development plans and the contribution of agriculture to GNP in developing nations. You will also meet development concepts such as basic needs as defined by the ILO, the core values of development, the Human Development Index, globalisation, debtor cartels, crude death rate, debt service, unemployment in developing countries and Nobel Prize winners in economics.
Agricultural and development economics are central in agriculture degree programmes and appear in Agriculture Officer, Economist and lecturer recruitment, as well as in economics papers of CSS and PMS. Questions often test precise definitions of development terms. Practising them helps you recall these quickly and use them in essays on rural poverty and food security. Rural finance and agricultural price policy are also worth revising.
Key facts to remember
- A cartel is an agreement among sellers to fix prices or share markets.
- The balance of payments summarises a nation's financial transactions with the rest of the world.
- The Human Development Index combines life expectancy, education and income per person.
- The crude death rate is the number of deaths per 1,000 people in a year.
- Debt service is the annual payment of interest and principal on borrowed funds.
- A central bank issues currency and manages a country's foreign exchange reserves.
Exams that include Agricultural economics MCQs
Pakistan
- PPSC Agriculture Officer
- CSS
- PMS
- FPSC
- Lecturer tests
India
- ICAR AIEEA
- UGC NET
- State PSC exams
- IBPS (Agriculture Field Officer)
Bangladesh
- BCS (Agriculture cadre)
- Bangladesh Bank recruitment
- Government job tests
How to prepare for Agricultural economics MCQs
- Learn development economics terms such as basic needs, HDI, debt service and crude death rate with one-line definitions.
- Revise central bank functions and monetary policy tools, as they appear in both agricultural and general economics questions.
- Link agriculture's role in development, such as supplying food, labour and foreign exchange, to typical exam statements.
- Note the main development economists and Nobel laureates linked to development, such as Arthur Lewis and Theodore Schultz.
Frequently asked questions
What is agricultural economics?
Agricultural economics applies economic theory to the production, distribution and consumption of farm products. It studies farm management, agricultural markets and prices, rural finance, trade and policy, and links closely with development economics in countries where agriculture employs many people.
How many Agricultural Economics MCQs are on MCQs360?
MCQs360 has 50 Agricultural Economics MCQs, each with an instant answer. You can practise them free with no sign-up and revise development and farm economics topics in a single session. Start with the development economics definitions, which recur often.
Which exams ask Agricultural Economics MCQs?
These questions appear in Agriculture Officer and agricultural economist posts through PPSC and other commissions, CSS and PMS economics papers and lecturer tests in Pakistan. In India they feature in ICAR AIEEA and UGC NET, and in Bangladesh in the BCS agriculture cadre.
Who won the 1979 Nobel Prize in Economics?
The 1979 Nobel Memorial Prize in Economic Sciences was shared by Theodore W. Schultz and Sir Arthur Lewis for their research on economic development, with particular attention to the problems of developing countries, including agriculture and human capital.
Last reviewed October 2026