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71.

Economics is a/an:

A.	Art	B.	Science
C.	Art and science	D.	None of these

72.

Economics is primarily a study of:

A.	Man	B.	Wealth
C.	Wants	D.	None of these

73.

Economy of a developing country is marked by:

A.	Predominance of agriculture	B.	Predominance of industry
C.	Predominance of transportation	D.	None of them

74.

Enterprise budgeting deals with input-output relationship of:

A.	A set of different enterprises	B.	A single enterprises of the farm
C.	Both of the above	D.	None of the above

75.

Expenditure on fertilizers is called:

A.	Fixed cost	B.	Variable cost
C.	Marginal cost	D.	Total cost

76.

Which one of the following is correct statement for market?

A.	A place where commodities are bought and sold	B.	Potential buyers and sellers of the product
C.	An organization, which provides facilities for exchange of commodities	D.	All of these

77.

Extension is demand means:

A.	Change in demand due to change in price	B.	Change in demand due to change in income
C.	Both (a) and (b)	D.	None of these

78.

Which one of the following formulae gives the correct measure of 'Rate of Capital turnover'?

A.	(Gross income/Total farm assets) x 100	B.	(Net income / Total farm assets) x 100
C.	(Farm business income / Total farm assets) x 100	D.	(Capital investment / Total farm assets) x 100

79.

Fasts and findings of other science are coordinated for the solution of various problems of individual farmers with view to achieving certain desired goals, hence, farm management is:

A.	Micro Approach Science	B.	Practical Science
C.	Integrating Science	D.	Broader Field

80.

Farm budgets are used to:

A.	Compare economic profitability of different production activities within or among farms	B.	Indicate wheather a proposed change will be profitable under a given set of factors
C.	Explore conditions under which certain farm practices become profitable or unprofitable	D.	Do all the above