Chapter:

50+ Agriculture Enterprise and Agro Based Industries Solved MCQs

in Fundamentals of Rural Development

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Chapter: Agriculture Enterprise and Agro Based Industries

1.	The word 'Entrepreneur' is derived from the _____ verb.
A.	Garman
B.	French
C.	India
D.	None of the above
Answer» B. French

discuss

2.	According to ______ "Entrepreneurs are a specialized group of persons who bear risks and deal with uncertainty".
A.	P.S.shaha
B.	S.P MAthur
C.	F. H. Knight
D.	John Deat
Answer» C. F. H. Knight

discuss

3.	________ is a self-motivated business manager who performs various agri-based activities.
A.	Agripreneur
B.	Carpenter
C.	Mechanic
D.	Driver
Answer» A. Agripreneur

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4.	_______ Entrepreneurship is predominantly related to the marketing and production of various agriculture products.
A.	Business
B.	Agriculture
C.	Doctor
D.	None of the above
Answer» B. Agriculture

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5.	Today _________ and productivity are serious concerns in agriculture entrepreneurship.
A.	Efficiency
B.	Process
C.	Strength
D.	Strategy
Answer» A. Efficiency

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6.	Focus on the identification and pursuits of opportunities are the core of ________ entrepreneurship.
A.	Doctor
B.	Strategy
C.	Agriculture
D.	Businessman
Answer» C. Agriculture

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7.	________ of an agricultural entrepreneur are different from non-agricultural entrepreneurs.
A.	priorities
B.	Selection
C.	Strategy
D.	Tendency
Answer» A. priorities

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8.	______ refers to the willingness of farmers to innovate to revitalize market offerings.
A.	PO
B.	EO
C.	GM
D.	None of the Above
Answer» B. EO

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9.	There are mainly ___ factors which impact agricultural entrepreneur.
A.	5
B.	4
C.	3
D.	1
Answer» B. 4

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10.	When _____ is in good shape, an agricultural entrepreneur is able to sell more of his premium produce.
A.	Socio-Economy
B.	Agriculture
C.	Economy
D.	Finance
Answer» C. Economy

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11.	A conductive ________ with support from family and friends and rural groups can act as a catalyst for an Agripreneur.
A.	Socio- Economy
B.	Socio-Culture
C.	social environment
D.	None of the above
Answer» C. social environment

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12.	________ is one of the opportunity available for an Agricultural Entrepreneur.
A.	Animal husbandry
B.	Forest
C.	Fishery
D.	Pharmaceuticals
Answer» A. Animal husbandry

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13.	______ is one of the factor influencing Agricultural Entrepreneurship.
A.	personality Development
B.	Skills development and training
C.	Communication skill
D.	Listing Skill
Answer» B. Skills development and training

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14.	________ is required by farmers to survive successfully in a changing business environment.
A.	Personality Development
B.	management
C.	Entrepreneurship
D.	Partnership
Answer» C. Entrepreneurship

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15.	______ is the co-ordinated science of supplying agricultural production inputs, and subsequently producing, processing and distribution of food and fiber.
A.	Partnership
B.	Agribusiness
C.	Joint Venture
D.	Swipper
Answer» B. Agribusiness

discuss

16.	Agriculture contributes around ___% to India's GDP.
A.	20%
B.	25%
C.	15%
D.	10%
Answer» C. 15%

discuss

17.	Innovation practices resulting in growth in economic growth sector will result in _______ GDP for the country.
A.	Increased
B.	Decreased
C.	Constant
D.	Flexible
Answer» B. Decreased

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18.	Agriculture provides employment to more than ___% of Indian's workforce.
A.	20
B.	50
C.	55
D.	56
Answer» B. 50

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19.	Growing opportunities in employment sector can result in _______ GDP for the country.
A.	Stable
B.	Flexible
C.	increase
D.	decrease
Answer» C. increase

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20.	India is managing ___ % of world population on 2.4% of world land.
A.	17.5%
B.	15.5%
C.	20%
D.	35%
Answer» B. 15.5%

discuss

21.	____ of surplus food production in order to augment foreign exchange reserves of the country.
A.	Import
B.	Sales
C.	Export
D.	Purchasing
Answer» C. Export

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22.	India has been exporting _______ goods to the world.
A.	primary
B.	Secondary
C.	Third
D.	Last
Answer» B. Secondary

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23.	Rapid growth of agriculture is necessary for ________ of the country and also for meeting the food and nutritional security of the people.
A.	Self Growth
B.	Self reliance
C.	Self Respect
D.	Satisfaction
Answer» B. Self reliance

discuss

24.	Agripreneurs can bring about ________ of income and wealth in rural areas, reduce poverty and improve the quality of life.
A.	equitable participation
B.	Profit maximization
C.	equitable distribution
D.	none of the above
Answer» C. equitable distribution

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25.	Agripreneurs are required to develop _______ food products as well as improved methods and processes to farming.
A.	innovative
B.	Traditional
C.	Primary
D.	Secondary
Answer» A. innovative

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26.	India is today demanding _______ which have health benefits.
A.	agro - byproducts
B.	agro-products
C.	dairy products
D.	stationary
Answer» B. agro-products

discuss

27.	Innovative practices in agriculture, with a focus on cost reduction and profitable opportunities can result in increase in _____ in rural areas and to their overall ______.
A.	health, wealth
B.	strategy, wealth
C.	wealth, development
D.	process, development
Answer» C. wealth, development

discuss

28.	Agripreneurs are required to adopt new _____ and share them with other farmers.
A.	technologies
B.	wealth
C.	sales
D.	production
Answer» A. technologies

discuss

29.	_______ enterprises refer to business units which are engaged in farming and farming related commercial activities.
A.	Stationary
B.	Agribusiness
C.	Carpenter
D.	Musician
Answer» B. Agribusiness

discuss

30.	Agribusiness deal with aspects such as production, processing and _______ , which are required to send an agricultural good to market.
A.	Participation
B.	Allotment
C.	distribution
D.	Sorting
Answer» C. distribution

discuss

31.	Agribusiness enterprises are ____ business that integrate agricultural production, valueadded processing, packaging, distribution, and marketing activities.
A.	complex
B.	Compact
C.	Original
D.	None of the Above
Answer» A. complex

discuss

32.	The demand for pork is determined by:
A.	the price of pork.
B.	income of the purchaser.
C.	the price of substitute products.
D.	all of the above.
Answer» D. all of the above.

discuss

33.	A dairy cow held for breeding and production purposes is known as a:
A.	short-term asset.
B.	intermediate asset.
C.	capital asset.
D.	long-term liability.
Answer» C. capital asset.

discuss

34.	Cattle futures are publicly traded on the:
A.	New York Stock Exchange.
B.	NASDAQ.
C.	Chicago Board of Trade.
D.	none
Answer» C. Chicago Board of Trade.

discuss

35.	Which state is the leading beef cattle state?
A.	Kentucky
B.	West Virginia
C.	Missouri
D.	Texas
Answer» D. Texas

discuss

36.	Which state is the leading dairy state?
A.	California
B.	Wisconsin
C.	New York
D.	Pennsylvania
Answer» A. California

discuss

37.	Vertical integration is most common in which of the following agricultural enterprises?
A.	horses
B.	beef
C.	grain
D.	poultry
Answer» D. poultry

discuss

38.	Which of the following business types allows the most liability protection for the owners?
A.	partnership
B.	sole propietorship
C.	corporation
D.	partnership
Answer» C. corporation

discuss

39.	Which county produces the most poultry products in West Virginia?
A.	Grant
B.	Pendleton
C.	Hampshire
D.	Hardy
Answer» D. Hardy

discuss

40.	Land is considered to be a:
A.	short-term asset
B.	long-term asset
C.	intermediate-term asset
D.	short-term liability
Answer» B. long-term asset

discuss

41.	Which of the following would most likely lead to an increase in soybean prices?
A.	increased industrial use of soybean oils
B.	increased number of hogs being fed
C.	a small soybean crop
D.	all of the above
Answer» D. all of the above

discuss

42.	Which of the following is the equation for determining net worth?
A.	Net Worth = Assets - Liabilities
B.	Net Worth = Assets + Liabilities
C.	Net Worth = Assets / Liabilities
D.	Net Worth = Liabilities - Assets
Answer» A. Net Worth = Assets - Liabilities

discuss

43.	Solvency of a business can be determined by evaluating the:
A.	cash flow statement
B.	debt to equity ratio
C.	price to earnings ratio
D.	net income
Answer» B. debt to equity ratio

discuss

44.	A plan of action for a business is known as a:
A.	balance sheet
B.	cash flow statement
C.	budget
D.	financial statement
Answer» C. budget

discuss

45.	There are three types of goals known as short-term, intermediate, and long-term.
A.	true
B.	false
C.	all
D.	none
Answer» A. true

discuss

46.	Money that you owe for operating expenses is known as accounts receivable.
A.	true
B.	false
C.	all
D.	none
Answer» B. false

discuss

47.	Inventory values for December 31 of a given year should become the beginning values for the following year on January 1.
A.	true
B.	false
C.	all
D.	none
Answer» A. true

discuss

48.	A written business agreement or contract should protect the interests of all parties involved in a business venture.
A.	true
B.	false
C.	all
D.	none
Answer» A. true

discuss

49.	Depreciation is the amount of value subtracted from a capital asset annually due to another year of use and age.
A.	true
B.	false
C.	all
D.	none
Answer» A. true

discuss

50.	For items purchased for resale you must have a record of the purchase cost for tax purposes.
A.	true
B.	false
C.	all
D.	none
Answer» A. true

discuss

51.	Payments received from the government are taxable forms of income.
A.	true
B.	false
C.	all
D.	none
Answer» A. true

discuss

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50+ Agriculture Enterprise and Agro Based Industries Solved MCQs

The word 'Entrepreneur' is derived from the _____ verb.

According to ______ "Entrepreneurs are a specialized group of persons who bear risks and deal with uncertainty".

________ is a self-motivated business manager who performs various agri-based activities.

_______ Entrepreneurship is predominantly related to the marketing and production of various agriculture products.

Today _________ and productivity are serious concerns in agriculture entrepreneurship.

Focus on the identification and pursuits of opportunities are the core of ________ entrepreneurship.

________ of an agricultural entrepreneur are different from non-agricultural entrepreneurs.

______ refers to the willingness of farmers to innovate to revitalize market offerings.

There are mainly ___ factors which impact agricultural entrepreneur.

When _____ is in good shape, an agricultural entrepreneur is able to sell more of his premium produce.

A conductive ________ with support from family and friends and rural groups can act as a catalyst for an Agripreneur.

________ is one of the opportunity available for an Agricultural Entrepreneur.

______ is one of the factor influencing Agricultural Entrepreneurship.

________ is required by farmers to survive successfully in a changing business environment.

______ is the co-ordinated science of supplying agricultural production inputs, and subsequently producing, processing and distribution of food and fiber.

Agriculture contributes around ___% to India's GDP.

Innovation practices resulting in growth in economic growth sector will result in _______ GDP for the country.

Agriculture provides employment to more than ___% of Indian's workforce.

Growing opportunities in employment sector can result in _______ GDP for the country.

India is managing ___ % of world population on 2.4% of world land.

____ of surplus food production in order to augment foreign exchange reserves of the country.

India has been exporting _______ goods to the world.

Rapid growth of agriculture is necessary for ________ of the country and also for meeting the food and nutritional security of the people.

Agripreneurs can bring about ________ of income and wealth in rural areas, reduce poverty and improve the quality of life.

Agripreneurs are required to develop _______ food products as well as improved methods and processes to farming.

India is today demanding _______ which have health benefits.

Innovative practices in agriculture, with a focus on cost reduction and profitable opportunities can result in increase in _____ in rural areas and to their overall ______.

Agripreneurs are required to adopt new _____ and share them with other farmers.

_______ enterprises refer to business units which are engaged in farming and farming related commercial activities.

Agribusiness deal with aspects such as production, processing and _______ , which are required to send an agricultural good to market.

Agribusiness enterprises are ____ business that integrate agricultural production, valueadded processing, packaging, distribution, and marketing activities.

The demand for pork is determined by:

A dairy cow held for breeding and production purposes is known as a:

Cattle futures are publicly traded on the:

Which state is the leading beef cattle state?

Which state is the leading dairy state?

Vertical integration is most common in which of the following agricultural enterprises?

Which of the following business types allows the most liability protection for the owners?

Which county produces the most poultry products in West Virginia?

Land is considered to be a:

Which of the following would most likely lead to an increase in soybean prices?

Which of the following is the equation for determining net worth?

Solvency of a business can be determined by evaluating the:

A plan of action for a business is known as a:

There are three types of goals known as short-term, intermediate, and long-term.

Money that you owe for operating expenses is known as accounts receivable.

Inventory values for December 31 of a given year should become the beginning values for the following year on January 1.

A written business agreement or contract should protect the interests of all parties involved in a business venture.

Depreciation is the amount of value subtracted from a capital asset annually due to another year of use and age.

For items purchased for resale you must have a record of the purchase cost for tax purposes.

Payments received from the government are taxable forms of income.

Innovative practices in agriculture, with a focus on cost reduction and profitable opportunities can result in increase in _ in rural areas and to their overall __.