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Economic Challenges and Agrarian Movements Quiz

#1

Which economic challenge is characterized by a sustained increase in the general price level of goods and services in an economy?

Inflation
Explanation

Persistent rise in overall prices.

#2

What term is used to describe the economic system where the means of production are privately owned, and prices are determined by supply and demand?

Capitalism
Explanation

Private ownership and market-determined prices.

#3

What economic challenge is characterized by the long-term absence or insufficient availability of essential goods and services?

Scarcity
Explanation

Insufficient availability of essential goods.

#4

In economic terms, what is the role of the World Trade Organization (WTO)?

Promoting international trade and resolving trade disputes
Explanation

Facilitating global trade and dispute resolution.

#5

What is the term for a situation where a country's imports exceed its exports, leading to a negative balance of trade?

Trade deficit
Explanation

More imports than exports, resulting in a negative trade balance.

#6

In agrarian movements, what term refers to the practice of rotating crops to improve soil fertility and prevent soil degradation?

Crop rotation
Explanation

Crop rotation for soil health.

#7

What economic challenge is associated with a general decline in economic activity, often measured by a decrease in GDP over two consecutive quarters?

Recession
Explanation

Two consecutive quarters of GDP decline.

#8

In agrarian movements, what does the term 'landless laborers' refer to?

Farm workers without land ownership
Explanation

Farmers without land.

#9

Which economic challenge is associated with a sudden and severe decline in economic activity across sectors, often leading to high unemployment rates?

Depression
Explanation

Severe economic downturn with high unemployment.

#10

In agrarian movements, what does the term 'subsistence farming' refer to?

Farmers growing crops for personal consumption
Explanation

Cultivating crops for personal use.

#11

Which economic challenge is characterized by a decrease in the overall prices of goods and services in an economy?

Deflation
Explanation

Overall price decline.

#12

In the context of agrarian movements, what does the term 'land reform' typically refer to?

Distribution of land ownership
Explanation

Changing land ownership patterns.

#13

Which economic challenge is characterized by a persistent decline in the general price level of goods and services in an economy?

Deflation
Explanation

Sustained decrease in prices.

#14

What is the primary goal of the Green Revolution in the context of agriculture?

Increasing agricultural productivity
Explanation

Boosting agricultural output.

#15

In economic terms, what does the acronym GDP stand for?

Gross Domestic Product
Explanation

Total value of a country's goods and services.

#16

In the context of agrarian movements, what is the significance of the term 'agrarian distress'?

Financial difficulties faced by farmers
Explanation

Financial troubles for farmers.

#17

What economic challenge is characterized by a situation where the demand for labor exceeds the supply, resulting in a shortage of workers?

Labor shortage
Explanation

Demand for labor exceeds supply.

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