Question for UPESSC Assistant Professor Agricultural Economics 2026 - Quiz / Questions / MCQ

Objective Questions

Latest UPESSC Assistant Professor Agricultural Economics Exam Question (Objective Questions), MCQ in English

Subjects : General Knowledge, Optional Subject (Agri. Economics)

Question Bank UPESSC Assistant Professor (Agricultural Economics) Exam - English

Back to Exam

General Knowledge

Question 1Single Answer

Who presented the Union Budget 2026–27 in Parliament?

A
Amit Shah
B
Piyush Goyal
C
Nirmala Sitharaman
D
Rajnath Singh

Question 2Single Answer

The Union Budget 2026–27 was the first Union Budget prepared in which building?

A
Kartavya Bhawan
B
North Block
C
Parliament House
D
Vigyan Bhawan

Question 3Single Answer

The Union Budget 2026–27 was inspired by how many 'Kartavyas'?

A
Three
B
Two
C
Four
D
Five

Question 4Single Answer

Total expenditure estimated in the Union Budget 2026–27 was approximately:

A
Rs 43.5 lakh crore
B
Rs 48.5 lakh crore
C
Rs 53.5 lakh crore
D
Rs 63.5 lakh crore

Question 5Single Answer

The New Income Tax Act, 2025 came into effect from:

A
January 2026
B
April 2026
C
July 2026
D
April 2027

Question 6Single Answer

India celebrated its _____ Republic Day on 26 January 2026.

A
77th
B
76th
C
75th
D
78th

Question 7Single Answer

Who was one of the Chief Guests at India's Republic Day celebrations in 2026?

A
Emmanuel Macron
B
António Costa
C
Keir Starmer
D
Friedrich Merz

Question 8Single Answer

Ursula von der Leyen attended India's Republic Day 2026 as the:

A
President of France
B
President of the European Commission
C
President of European Council
D
UN General Assembly President

Question 9Single Answer

António Costa is the President of the:

A
European Commission
B
European Parliament
C
European Central Bank
D
European Council

Question 10Single Answer

Republic Day 2026 highlighted 150 years of which national song?

A
Vande Mataram
B
Sare Jahan Se Achha
C
Jana Gana Mana
D
Ae Mere Watan Ke Logon

Question 11Single Answer

How many Padma Awards were approved for 2026?

A
121
B
131
C
125
D
139

Question 12Single Answer

How many Padma Vibhushan awards were announced for 2026?

A
5
B
3
C
7
D
10

Question 13Single Answer

How many Padma Bhushan awards were announced for 2026?

A
10
B
11
C
15
D
13

Question 14Single Answer

How many Padma Shri awards were announced for 2026?

A
103
B
113
C
108
D
118

Question 15Single Answer

The Padma Awards are traditionally announced on the occasion of:

A
Independence Day
B
Gandhi Jayanti
C
Republic Day
D
Constitution Day

Question 16Single Answer

The 20th Asian Games 2026 are being hosted by which country?

A
China
B
South Korea
C
India
D
Japan

Question 17Single Answer

The 2026 Asian Games are primarily being organised in which region?

A
Aichi–Nagoya
B
Osaka–Kyoto
C
Tokyo–Yokohama
D
Sapporo–Hakodate

Question 18Single Answer

On which date did the 20th Asian Games officially open?

A
10 September 2026
B
15 September 2026
C
19 September 2026
D
22 September 2026

Question 19Single Answer

The 2026 Asian Games are scheduled to conclude on which date?

A
4 October
B
2 October
C
30 September
D
10 October

Question 20Single Answer

Approximately how many countries and regions are participating in the 2026 Asian Games?

A
35
B
40
C
50
D
45

Question 21Single Answer

How many sports are included in the 2026 Asian Games programme?

A
43
B
40
C
38
D
48

Question 22Single Answer

Which edition of the Asian Games is being held in 2026?

A
18th
B
19th
C
21st
D
20th

Question 23Single Answer

Japan previously hosted the Asian Games in 1958 in which city?

A
Osaka
B
Nagoya
C
Hiroshima
D
Tokyo

Question 24Single Answer

Japan's second hosting of the Asian Games took place in 1994 in which city?

A
Kyoto
B
Nagoya
C
Hiroshima
D
Kobe

Question 25Single Answer

Which sport made its Asian Games debut in 2026?

A
Hockey
B
Mixed martial arts
C
Badminton
D
Archery

Question 26Single Answer

Which racket sport is among the new additions to the 2026 Asian Games?

A
Racquetball
B
Squash
C
Padel
D
Tennis

Question 27Single Answer

Which sport combining elements of football and table tennis is included as a new sport in the 2026 Asian Games?

A
Footvolley
B
Sepak takraw
C
Futsal
D
Teqball

Question 28Single Answer

Approximately how many medal events are included in the 2026 Asian Games?

A
469
B
419
C
369
D
569

Question 29Single Answer

Which country has traditionally dominated the Asian Games medal table since 1982?

A
Japan
B
China
C
India
D
South Korea

Question 30Single Answer

The 2026 Asian Games also serve as qualifiers for some events at which Olympic Games?

A
Salt Lake City 2034
B
Brisbane 2032
C
Paris 2024
D
Los Angeles 2028

Optional Subject (Agri. Economics)

Question 31Single Answer

The fundamental economic problem arises primarily because:

A
Human wants are limited
B
Resources are scarce relative to wants
C
Resources are unlimited
D
Production is always constant

Question 32Single Answer

Microeconomics is primarily concerned with the study of:

A
Individual economic units
B
National income
C
General price level
D
Aggregate employment

Question 33Single Answer

Macroeconomics studies:

A
Price of an individual commodity
B
Economy-wide aggregates
C
Behavior of a single consumer
D
Output of a single firm

Question 34Single Answer

A positive economic statement is one that:

A
Can be tested against facts
B
Describes what ought to be
C
Contains a value judgment
D
Is based only on ethics

Question 35Single Answer

Normative economics is mainly concerned with:

A
What is
B
Historical facts only
C
What ought to be
D
Statistical estimation only

Question 36Single Answer

Opportunity cost refers to:

A
Money spent on production
B
Total fixed cost
C
Value of the next best alternative forgone
D
Accounting cost only

Question 37Single Answer

A production possibility curve illustrates:

A
Consumer equilibrium
B
Income distribution
C
Market equilibrium only
D
Alternative combinations of two goods obtainable with given resources

Question 38Single Answer

A point inside a production possibility curve indicates:

A
Full employment
B
Efficient allocation
C
Unattainable production
D
Underutilization of resources

Question 39Single Answer

A point outside the production possibility curve is:

A
Currently unattainable with given resources
B
Inefficient
C
Always attainable
D
A point of unemployment

Question 40Single Answer

The slope of a production possibility curve measures:

A
Marginal utility
B
Marginal rate of substitution
C
Marginal opportunity cost
D
Average cost

Question 41Single Answer

Comparative statics examines:

A
Comparison between different equilibrium positions
B
Historical sequences of change
C
Accounting identities
D
Consumer preferences only

Question 42Single Answer

The assumption “other things remaining constant” is expressed as:

A
Ceteris paribus
B
Ex post
C
Ex ante
D
Mutatis mutandis

Question 43Single Answer

Economic models are generally used to:

A
Reproduce every detail of reality
B
Simplify and analyze economic relationships
C
Eliminate all assumptions
D
Avoid predictions

Question 44Single Answer

Partial equilibrium analysis is especially associated with:

A
Walras
B
Keynes
C
Alfred Marshall
D
Hicks

Question 45Single Answer

General equilibrium analysis is prominently associated with:

A
Walras
B
Pigou
C
Malthus
D
Friedman

Question 46Single Answer

According to cardinal utility analysis, utility is assumed to be:

A
Measurable in cardinal units
B
Unmeasurable
C
Constant for all consumers
D
Independent of consumption

Question 47Single Answer

The law of diminishing marginal utility states that marginal utility generally:

A
Rises continuously
B
Falls as consumption increases
C
Remains constant
D
Becomes infinite

Question 48Single Answer

Total utility is maximum when marginal utility is:

A
Maximum
B
Zero
C
Negative infinity
D
Equal to price

Question 49Single Answer

Under cardinal utility analysis, consumer equilibrium for two commodities requires:

A
MUx = MUy
B
Px = Py
C
MUx/Px = MUy/Py
D
TUx = TUy

Question 50Single Answer

Consumer surplus is commonly associated with:

A
Marshall
B
Walras
C
Ricardo
D
Schumpeter

Important Questions Package

UPESSC Assistant Professor Agricultural Economics Exam Online Question Bank Package

Buy UPESSC Assistant Professor Agricultural Economics Important Questions, MCQ, question answer in Hindi & English. It will help you to score high marks in UPESSC Assistant Professor Agricultural Economics question bank 2026 in Online, PDF & Print study material.

+ Free Monthly Current Affairs, GK & more PDF Download

Sr.	Package Name	Amount
1.	UPESSC Assistant Professor (Agricultural Economics) Exam - Hindi Description : 1000 Question with Answer	₹101 ~~[₹500]~~
2.	UPESSC Assistant Professor (Agricultural Economics) Exam - Hindi Description : 2000 Question with Answer	₹141 ~~[₹500]~~
3.	UPESSC Assistant Professor (Agricultural Economics) Exam - Hindi Description : 3000 Question with Answer	₹171 ~~[₹500]~~
4.	UPESSC Assistant Professor (Agricultural Economics) Exam - Hindi Description : 4000 Question with Answer	₹201 ~~[₹500]~~
5.	UPESSC Assistant Professor (Agricultural Economics) Exam - English Description : 1000 Question with Answer	₹101 ~~[₹500]~~
6.	UPESSC Assistant Professor (Agricultural Economics) Exam - English Description : 2000 Question with Answer	₹141 ~~[₹500]~~
7.	UPESSC Assistant Professor (Agricultural Economics) Exam - English Description : 3000 Question with Answer	₹171 ~~[₹500]~~
8.	UPESSC Assistant Professor (Agricultural Economics) Exam - English Description : 4000 Question with Answer	₹201 ~~[₹500]~~
9.	UPESSC Assistant Professor (Agricultural Economics) Exam - Hindi Description : 1000 Question & Answer Download in PDF (Send by Email)	₹151 ~~[₹450]~~
10.	UPESSC Assistant Professor (Agricultural Economics) Exam - English Description : 1000 Question & Answer Download in PDF (Send by Email)	₹151 ~~[₹450]~~
11.	UPESSC Assistant Professor (Agricultural Economics) Exam Question Bank Book - Hindi Description : 1000 Question with Answer (Printed Material)	₹450 ~~[₹800]~~
12.	UPESSC Assistant Professor (Agricultural Economics) Exam Question Bank Book - English Description : 1000 Question with Answer (Printed Material)	₹390 ~~[₹600]~~

Optional Subject (Agri. Economics)

Question 51Single Answer

Consumer surplus equals:

A
Price paid minus willingness to pay
B
Total cost minus revenue
C
Income minus saving
D
Willingness to pay minus actual price paid

Question 52Single Answer

Indifference curve analysis is based on:

A
Cardinal utility
B
Constant marginal utility of money only
C
Ordinal utility
D
Measurable satisfaction

Question 53Single Answer

An indifference curve represents combinations of goods yielding:

A
Different satisfaction
B
Equal prices
C
Maximum income
D
Equal satisfaction

Question 54Single Answer

A normal indifference curve is generally:

A
Upward sloping
B
Horizontal
C
Vertical
D
Downward sloping

Question 55Single Answer

Convexity of an indifference curve reflects:

A
Diminishing marginal rate of substitution
B
Increasing marginal rate of substitution
C
Constant prices
D
Increasing income

Question 56Single Answer

Higher indifference curves represent:

A
Lower satisfaction
B
Same satisfaction
C
Higher satisfaction
D
Zero satisfaction

Question 57Single Answer

Two indifference curves cannot intersect because it would violate:

A
Consistency of preferences
B
Scarcity
C
Law of supply
D
Budget constraint

Question 58Single Answer

The slope of an indifference curve is measured by:

A
Marginal product
B
Marginal cost
C
Marginal rate of substitution
D
Marginal revenue

Question 59Single Answer

The budget line shows:

A
Consumer preferences
B
Production possibilities
C
Affordable combinations of two commodities
D
Producer equilibrium

Question 60Single Answer

The slope of a budget line is:

A
Px/Py with positive sign
B
−Px/Py
C
Income/Px
D
Income/Py

Question 61Single Answer

An increase in consumer income, with prices unchanged, causes the budget line to:

A
Shift inward parallelly
B
Remain unchanged
C
Become vertical
D
Shift outward parallelly

Question 62Single Answer

Consumer equilibrium under indifference curve analysis occurs when:

A
MRSxy = Px/Py
B
MRSxy = income
C
Px = income
D
MU is zero

Question 63Single Answer

The substitution effect of a fall in the price of a commodity generally causes demand for it to:

A
Decrease
B
Increase
C
Remain unchanged
D
Become zero

Question 64Single Answer

For a normal good, the income effect of a price reduction is:

A
Negative
B
Zero
C
Positive
D
Indeterminate in all cases

Question 65Single Answer

A Giffen good is characterized by:

A
Positive income effect greater than substitution effect
B
Negative income effect strong enough to outweigh substitution effect
C
Zero substitution effect
D
Perfectly elastic demand

Question 66Single Answer

An Engel curve shows the relationship between:

A
Price and demand
B
Cost and production
C
Consumer income and quantity demanded
D
Saving and investment

Question 67Single Answer

For a normal commodity, an Engel curve usually slopes:

A
Upward
B
Downward
C
Vertically
D
Horizontally

Question 68Single Answer

A commodity whose demand decreases as income rises is called:

A
Normal good
B
Public good
C
Inferior good
D
Merit good

Question 69Single Answer

The revealed preference approach was developed by:

A
Ricardo
B
Keynes
C
Pigou
D
Samuelson

Question 70Single Answer

The compensated demand curve keeps constant the consumer’s:

A
Purchasing power or utility level
B
Money income
C
Commodity price
D
Saving

Question 71Single Answer

Hicksian demand is also known as:

A
Compensated demand
B
Uncompensated demand
C
Market supply
D
Derived demand

Question 72Single Answer

Marshallian demand is also called:

A
Compensated demand
B
Uncompensated demand
C
Joint demand
D
Composite demand

Question 73Single Answer

If cross-price elasticity between two goods is positive, they are generally:

A
Complements
B
Inferior goods
C
Substitutes
D
Public goods

Question 74Single Answer

If cross-price elasticity is negative, the goods are usually:

A
Substitutes
B
Independent goods
C
Giffen goods
D
Complements

Question 75Single Answer

Income elasticity of demand for an inferior good is:

A
Negative
B
Positive
C
Always one
D
Infinite

Question 76Single Answer

A production function expresses the relationship between:

A
Prices and demand
B
Income and saving
C
Inputs and output
D
Revenue and taxes

Question 77Single Answer

In the short run:

A
At least one input is fixed
B
All inputs are variable
C
No input can be changed
D
Output is fixed

Question 78Single Answer

In the long run:

A
All factors are fixed
B
Price is fixed
C
Output is fixed
D
All factors can be varied

Question 79Single Answer

Total product refers to:

A
Total quantity of output produced
B
Output per unit of variable factor
C
Addition to total product
D
Cost per unit

Question 80Single Answer

Average product of labor equals:

A
TP × L
B
ΔTP/ΔL
C
TP/L
D
TC/Q

Question 81Single Answer

Marginal product of labor is:

A
Change in total product due to an additional unit of labor
B
TP/L
C
Total product minus average product
D
Output price

Question 82Single Answer

When marginal product exceeds average product, average product is:

A
Rising
B
Falling
C
Constant
D
Zero

Question 83Single Answer

Average product reaches its maximum when:

A
TP = 0
B
MP = 0
C
MP = AP
D
MP is negative

Question 84Single Answer

Total product is maximum when marginal product is:

A
Zero
B
Maximum
C
Equal to AP
D
Infinite

Question 85Single Answer

The law of variable proportions applies mainly to the:

A
Very long run
B
Money market
C
International economy
D
Short run

Question 86Single Answer

The rational stage of production under the law of variable proportions is:

A
Stage I
B
Stage III
C
Stage II
D
Stage IV

Question 87Single Answer

Stage III of production begins when:

A
AP becomes maximum
B
TP begins increasing
C
MP becomes negative
D
MP exceeds AP

Question 88Single Answer

An isoquant represents combinations of inputs producing:

A
Equal output
B
Equal cost
C
Equal revenue
D
Equal profit

Question 89Single Answer

The slope of an isoquant measures:

A
Marginal rate of technical substitution
B
Marginal rate of substitution
C
Price ratio
D
Average productivity

Question 90Single Answer

A typical isoquant is convex to the origin because of:

A
Increasing MRTS
B
Constant cost
C
Diminishing MRTS
D
Increasing prices

Question 91Single Answer

An isocost line represents combinations of factors involving:

A
Equal output
B
Equal profit
C
Equal marginal product
D
Equal total expenditure

Question 92Single Answer

Producer equilibrium occurs where:

A
AP is minimum
B
MP is zero
C
MRTS equals factor-price ratio
D
Total cost is maximum

Question 93Single Answer

Returns to scale deal with changes in output when:

A
One input changes
B
Technology is fixed forever
C
Price changes
D
All inputs change proportionately

Question 94Single Answer

If doubling all inputs more than doubles output, there are:

A
Constant returns to scale
B
Decreasing returns to scale
C
Increasing returns to scale
D
Negative returns

Question 95Single Answer

If doubling all inputs exactly doubles output, returns to scale are:

A
Increasing
B
Negative
C
Decreasing
D
Constant

Question 96Single Answer

The Cobb–Douglas production function is commonly written as:

A
Q = MC + AC
B
Q = P × Y
C
Q = A Lᵅ Kᵝ
D
Q = C + I

Question 97Single Answer

In a Cobb–Douglas production function, constant returns to scale exist when:

A
α + β = 1
B
α + β > 1
C
α + β < 1
D
α = β = 0

Question 98Single Answer

Technical efficiency means:

A
Maximizing taxation
B
Maximizing price
C
Producing maximum possible output from given inputs
D
Producing at maximum total cost

Question 99Single Answer

Economic efficiency requires:

A
Technical efficiency without regard to cost
B
Maximum use of every input
C
Production at minimum possible cost for given output
D
Zero fixed cost

Question 100Single Answer

The expansion path traces:

A
Least-cost input combinations at different output levels
B
Consumer equilibrium at different incomes
C
Demand at different prices
D
Tax incidence

Question 101Single Answer

Total fixed cost:

A
Changes directly with output
B
Remains constant with output in the short run
C
Becomes negative
D
Is always zero

Question 102Single Answer

Total variable cost:

A
Does not depend on output
B
Varies with output
C
Always equals fixed cost
D
Is zero at every output

Question 103Single Answer

Total cost is equal to:

A
TR − TC
B
AFC + AVC
C
MC + AFC
D
TFC + TVC

Question 104Single Answer

Average fixed cost:

A
Falls continuously as output rises
B
Rises continuously with output
C
Remains constant
D
First rises, then falls

Question 105Single Answer

Average variable cost is:

A
TC × Q
B
TFC/Q
C
TVC/Q
D
ΔTR/ΔQ

Question 106Single Answer

Average total cost equals:

A
AFC − AVC
B
AFC + AVC
C
TC × Q
D
MC + TR

Question 107Single Answer

Marginal cost is defined as:

A
ΔTC/ΔQ
B
TC/Q
C
TFC/Q
D
TR/Q

Question 108Single Answer

The marginal cost curve intersects AVC at its:

A
Minimum point
B
Maximum point
C
Zero point
D
Vertical intercept

Question 109Single Answer

The marginal cost curve intersects ATC at its:

A
Origin
B
Maximum point
C
Minimum point
D
Highest price

Question 110Single Answer

The long-run average cost curve is often called the:

A
Demand curve
B
Phillips curve
C
Engel curve
D
Envelope curve

Question 111Single Answer

Economies of scale cause long-run average cost to:

A
Rise
B
Become zero
C
Remain necessarily constant
D
Fall

Question 112Single Answer

Diseconomies of scale cause long-run average cost to:

A
Fall
B
Become negative
C
Rise
D
Equal marginal revenue

Question 113Single Answer

Internal economies arise from:

A
Expansion of the industry only
B
Population decline
C
Government taxation only
D
Expansion of the individual firm

Question 114Single Answer

External economies arise because of:

A
Reduction in firm size only
B
Growth of the entire industry or external environment
C
Falling output alone
D
Increasing fixed cost

Question 115Single Answer

Explicit costs involve:

A
Imputed values only
B
Direct monetary payments
C
No resource use
D
Opportunity cost only

Question 116Single Answer

Implicit cost refers to:

A
Payment to outside suppliers
B
Depreciation only
C
Tax payments
D
Opportunity cost of owner-supplied resources

Question 117Single Answer

Economic cost includes:

A
Explicit costs only
B
Implicit costs only
C
Both explicit and implicit costs
D
Fixed costs only

Question 118Single Answer

Normal profit is treated by economists as:

A
Consumer surplus
B
Pure monopoly profit
C
A tax
D
Part of economic cost

Question 119Single Answer

Sunk costs are costs that:

A
Can be fully recovered
B
Always vary with output
C
Have already been incurred and cannot be recovered
D
Are future costs

Question 120Single Answer

The shutdown point of a competitive firm occurs at the minimum of:

A
AFC
B
MC
C
ATC
D
AVC

Back to Exam

Latest UPESSC Assistant Professor Agricultural Economics Exam Question (Objective Questions), MCQ in English

General Knowledge

Optional Subject (Agri. Economics)

UPESSC Assistant Professor Agricultural Economics Exam Online Question Bank Package

Optional Subject (Agri. Economics)

Quick View