The 'C2 cost' in agriculture includes A2 plus family labour plus: MCQ with Answer and Explanation

Question

Share Report Error

The 'C2 cost' in agriculture includes A2 plus family labour plus:

A. interest on land and fixed capital

B. only seed cost

C. only pesticide cost

D. only fertilizer cost

Answer: Option A

Solution (By JKSSB Mock Tests)

C2 cost includes A2 plus family labour plus interest on land and fixed capital.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

The term 'Special Drawing Rights' can be used by member countries of the IMF for:

A. Only domestic transactions

B. Settling international payments and as a reserve asset

C. Only financing fiscal deficit

D. Only purchasing gold

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
SDRs are international reserve assets that can be exchanged for freely usable currencies and used in transactions among IMF members and prescribed holders.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of elasticity of demand, which of the following goods is likely to have inelastic demand?

A. Jewellery

B. Air conditioners

C. Luxury cars

D. Salt

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
Necessities like salt have inelastic demand because quantity demanded does not change significantly with price changes. Luxuries tend to have elastic demand.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'base year' for the current CPI-IW series is:

A. 2011-12

B. 2001

C. 2016

D. 2012

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
The current CPI-IW series has base year 2016.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs