TNPSC Animal Husbandry & Veterinary Science, Code 396 Livestock Economics, Marketing & Business Management: practice questions

Question 1 · easy

Which statement is the law of diminishing returns?

1. With other inputs held fixed, the extra output from each added unit of a variable input eventually falls
2. When every input is doubled at once, output always rises by less than double, whatever the farm size
3. Average cost per litre falls steadily for as long as more cows are added to the same dairy unit
4. Total output starts to fall as soon as the first unit of a variable input is added to the fixed land, labour and housing

Question 2 · easy

A cow gives 10.5 litres of milk a day on 2 kg of concentrate and 12.0 litres on 3 kg, other feed unchanged. What is the marginal physical product of the third kilogram?

1. 1.5 litres
2. 4.0 litres
3. 12.0 litres
4. 2.0 litres

Question 3 · easy

In most milk, broiler and egg enterprises, the largest single item of the cost of production is:

1. Labour
2. Feed and fodder
3. Veterinary care and medicines
4. Depreciation of buildings

Question 4 · easy

A dairy farmer receives 38 currency units per litre and the consumer pays 56 per litre for the same milk. What is the producer's share in the consumer's rupee?

1. 32.1 per cent
2. 147.4 per cent
3. 47.4 per cent
4. 67.9 per cent

Question 5 · easy

In many weekly livestock markets of South Asia, animals are sold by eye estimation rather than on a weighbridge. The main consequence is that:

1. Producers who cannot judge weight as well as traders tend to receive lower prices
2. Animals fetch higher prices than they would if they were weighed on a scale
3. Market fees and commission charges are abolished for all sellers in the market
4. Prices in the market become fully integrated with distant terminal markets

Question 6 · easy

The three tiers of the Anand pattern of dairy cooperatives are:

1. Village panchayat, block office and state dairy department
2. Milk vendor, wholesaler and urban retailer
3. Primary bank, district bank and state apex bank
4. Village society, district union and state federation

Question 7 · easy

New Zealand's largest dairy cooperative, Fonterra, was formed in 2001 by:

1. A merger of the main dairy cooperatives with the national dairy board
2. A government takeover of all private dairy companies
3. The conversion of a state milk board into a listed company
4. A joint venture between European and Asian processors

Question 8 · medium

Which is a core function of a village dairy cooperative society under the Anand pattern?

1. Processing milk into powder and marketing it nationally under the federation's name
2. Setting the state-wide consumer price of milk for every city in the state
3. Licensing private dairies and inspecting them for compliance with food law
4. Collecting milk twice a day, testing it for fat and SNF, and paying producers on quality

Question 9 · medium

Why do revolving credit lines suit dairy farmers' working-capital needs?

1. Feed and labour bills and milk income recur monthly, so a revolving limit matches the cash cycle
2. They carry no interest when used for livestock
3. They replace the need for insurance on financed animals
4. They are repaid only when the herd is sold

Question 10 · easy

Under the TRIPS Agreement, the minimum term of patent protection is:

1. 10 years from the grant date
2. 20 years from the filing date
3. 15 years from the filing date
4. 50 years from the inventor's death