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- Subject
- Agricultural economicsagriculture-mcqs › agricultural-economics
- Published
- 28 Mar 2019
- Last updated
- 28 May 2026
Explanation
Specialization refers to the concentration of resources by an individual, firm, region, or nation on producing a narrow set of goods or services. This is different from speculation, which involves risk-taking in markets; an overpass, which is a type of road structure; and capital flight, which is the rapid movement of assets out of a country.
More Agricultural economics MCQs
Practice related questions from the same subject.
- 1.What is the full form of the acronym PARC?
- 2.What is the full form of the acronym NARC?
- 3.What is the contribution of the agriculture sector to the GDP in percentage terms?
- 4.Which index evaluates a country's social and economic progress using indicators such as life expectancy at birth, education levels, and income adjusted per capita?
- 5.What term is used to describe the currency of a leading industrial nation, like the U.S. dollar?
- 6.What term describes the sensitivity of the quantity demanded of a product to changes in consumer income, calculated as the percentage change in quantity demanded divided by the percentage change in income?
- 7.Which term describes the indirect variation in real income caused by changes in the price of a good affecting the quantity demanded?
- 8.What is the yearly payment a borrower makes to a lender in addition to repaying the principal loan amount called?