MCQ on MSP, Farm Planing and Budgeting, and Agricultural Policy

Also read: Agricultural Economics Multiple Choice Questions

MCQ on Farm Budgeting

Question 01. What is the budget for Department of Agriculture and Farmers’ Welfare in 2022-23 over 2013-14? 465%

(a). Up by 365%
(b). Up by 465%
(c). Up by 265%
(d). Up by 165%

Question 02. What was the state wise area covered under Micro Irrigation and Central Assistance released under the PDMC since the inception of the scheme 2015-16 to till date?

(a). Andhara Pradesh- 758646, Chhattisgarh- 124759, Maharastra- 803714
(b). Andhara Pradesh- 658646, Chhattisgarh- 104759, Maharastra- 903714
(c). Andhara Pradesh- 858646, Chhattisgarh- 114759, Maharastra- 703714
(d). None of the above

Question 03. MSP is fixed on the recommendations of which of the following commission? 

(a). National Commission on Agriculture
(b). National Commission on Farmers
(c). Both a and b
(d). Commission for Agricultural Costs and Prices (CACP)

Question 04. Which of the following acts are known as Farm Bills?

(a). Indian agriculture acts of 2021
(b). Indian agriculture acts of 2020
(c). Indian agriculture acts of 2019
(d). None of the above

Question 05. Which of the following act allows electronic trading and e-commerce of scheduled farmers’ produce?

(a). Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Act, 2020
(b). Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Act, 2020
(c). Essential Commodities (Amendment) Act, 2020
(d). All of the above

Quiz (MCQ): Minimum Support Price

Question 06. Which of the following body is involved in implementing the MSP at the state level?

(a). Food Corporation of India (FCI)
(b). National Agricultural Co-operative Marketing Federation (NAFED)
(c). Both a and b
(d). None of the above

Question 07. When was the Agricultural Price Commission (APC) set up?

(a). In 1963
(b). In 1962
(c). In 1964
(d). In 1965

Question 08. When was Agricultural Price Commission reconstituted into the Commission for Agricultural Costs and Prices?

(a). March 1865
(b). February 1865
(c). April 1865
(d). May 1865

Question 09. Which of the following cereal crop doesn’t come under MSP?

(a). Rice
(b). Wheat
(c). Cotton
(d). Proso millet

Question 10. Which is not a commercial crop under MSP?

(a). Copra
(b). Niger seed
(c). Gram
(d). None of the above

MSP Quiz

Question 11. Until the December 2020, a total of how many commodities are covered by the MSP mechanism?

(a). 22
(b). 23
(c). 21
(d). 40

Question 12. Which of the following factor affects MSP?

(a). Trends in market prices
(b). Demand and supply
(c). Cost of production
(d). All of the above

Question 13. Which one is the objective of setting MSP?

(a). Support farmers from distress sales
(b). To procure food grains for public distribution
(c). Both a and b
(d). None of the above

Question 14. Which is true statement?

(a). Farm plan can’t be prepared without a budget
(b). Budgeting is possible without farm plan
(c). Both a and b
(d). Farm plan can be prepared without a budget

Question 15. Which is not a type of farm budgeting?

(a). Partial budgeting
(b). Complete budgeting
(c). Half budgeting
(d). None of the above

Farm Planning and Agricultural Policy

Question 16. Which is true about the partial budgeting?

(a). Only fixed costs are considered
(b). Only variable costs are considered
(c). Both a and b
(d). None of the above