Agricultural Economics Important Oneliner
1. Family is basic unit of Civilization
2. Village is the basic unit of rural : Society
3. Cooperative movement was started in India : 1904
4. Father of Co-operative movement in India was : F.Nicholson
5. In farm production capital is the: Passive Factor
6. Labour in the farm management is an Active Factor
7. The agricultural product act was passed in: 1937
8. AGMARK established in the year : 1937
9. Planning Commission established in: 1950, March
10. VAT (Value Added Tax) is an : Indirect Tax
11. Agriculture year : 1st June to 31st March
12. Financial Year : 1st April to 31st March
13. Demand for luxurious good is : More elastic
14. Demand for necessary commodities is: Inelastic
15. One of the important fixed cost on farm is : Land rent
16. The demand of agricultural products in general is : Inelastic
17. The price elasticity of demand for Food is : Relatively inelastic
18. Indian economy is concerned with : Mixed
19. Risk is minimized in : Diversified farming
20. Short term credit facillity is given for the purpose of : Crop production
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